State of Michigan Retirement System Has $2.12 Million Holdings in Murphy USA Inc. (NYSE:MUSA)

State of Michigan Retirement System cut its holdings in Murphy USA Inc. (NYSE:MUSA) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,524 shares of the specialty retailer’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Murphy USA were worth $2,124,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in Murphy USA by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 204,363 shares of the specialty retailer’s stock valued at $95,940,000 after buying an additional 1,560 shares during the period. Raymond James Trust N.A. acquired a new position in shares of Murphy USA during the second quarter worth approximately $776,000. Calamos Advisors LLC acquired a new position in shares of Murphy USA during the second quarter worth approximately $1,085,000. Argent Capital Management LLC raised its position in shares of Murphy USA by 1,359.6% during the second quarter. Argent Capital Management LLC now owns 93,326 shares of the specialty retailer’s stock worth $43,813,000 after purchasing an additional 86,932 shares during the period. Finally, &PARTNERS raised its position in shares of Murphy USA by 9.3% during the second quarter. &PARTNERS now owns 826 shares of the specialty retailer’s stock worth $388,000 after purchasing an additional 70 shares during the period. 80.81% of the stock is owned by institutional investors and hedge funds.

Murphy USA Trading Down 0.5 %

NYSE MUSA opened at $515.20 on Thursday. The firm has a market capitalization of $10.67 billion, a P/E ratio of 21.62 and a beta of 0.77. The business has a fifty day simple moving average of $493.67 and a 200 day simple moving average of $448.00. Murphy USA Inc. has a 12 month low of $309.18 and a 12 month high of $522.57. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 2.20.

Murphy USA (NYSE:MUSA) last released its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $6.92 EPS for the quarter, beating analysts’ consensus estimates of $6.91 by $0.01. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.69 billion. Murphy USA had a return on equity of 64.73% and a net margin of 2.50%. Murphy USA’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.02 EPS. On average, analysts predict that Murphy USA Inc. will post 24.83 EPS for the current fiscal year.

Murphy USA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 26th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, August 26th. This is an increase from Murphy USA’s previous quarterly dividend of $0.44. Murphy USA’s dividend payout ratio is 7.55%.

Wall Street Analyst Weigh In

MUSA has been the topic of a number of research reports. Raymond James upped their target price on Murphy USA from $530.00 to $545.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their target price on Murphy USA from $538.00 to $537.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. StockNews.com raised Murphy USA from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. Finally, Wells Fargo & Company increased their price target on Murphy USA from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Murphy USA presently has an average rating of “Moderate Buy” and a consensus target price of $469.50.

Insider Buying and Selling at Murphy USA

In other Murphy USA news, Director Robert Madison Murphy sold 13,454 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $514.38, for a total value of $6,920,468.52. Following the completion of the transaction, the director now owns 382,930 shares in the company, valued at approximately $196,971,533.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James W. Keyes sold 2,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $511.54, for a total transaction of $1,023,080.00. Following the completion of the transaction, the director now owns 16,114 shares in the company, valued at approximately $8,242,955.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Madison Murphy sold 13,454 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $514.38, for a total value of $6,920,468.52. Following the transaction, the director now owns 382,930 shares of the company’s stock, valued at approximately $196,971,533.40. The disclosure for this sale can be found here. Insiders sold 32,209 shares of company stock worth $16,564,666 in the last quarter. 9.04% of the stock is currently owned by company insiders.

Murphy USA Profile

Murphy USA Inc engages in marketing of retail motor fuel products and convenience merchandise. The company operates retail stores under the Murphy USA, Murphy Express, and QuickChek brands, as well as operates non-fuel convenience stores. It operates retail gasoline stores principally in the Southeast, Southwest, and Midwest United States.