Sun Sep 15 16:08:53 UTC 2024: ## Federated Hermes Decreases Stake in Murphy USA, Other Institutional Investors Adjust Holdings

**New York, NY** – Federated Hermes Inc. reduced its position in Murphy USA Inc. (NYSE: MUSA) by 32.1% in the second quarter, according to the company’s recent SEC filing. The fund now owns 64,726 shares of the specialty retailer, valued at $30,386,000.

This move comes as several other hedge funds and institutional investors have also adjusted their holdings of Murphy USA. Price T Rowe Associates Inc. MD increased its stake by 0.6%, while Norges Bank purchased a new stake valued at $81,560,000. Bank of New York Mellon Corp boosted its holdings by 0.8%, and William Blair Investment Management LLC grew its position by 1.2%. Argent Capital Management LLC saw the most significant increase, growing its stake by a whopping 1,359.6%.

Institutional investors now own 80.81% of Murphy USA’s stock.

Murphy USA’s stock opened at $533.25 on Friday. The company’s market cap is $10.93 billion, with a P/E ratio of 22.38 and a beta of 0.77.

The company recently announced an increased quarterly dividend of $0.45, representing a 0.34% yield.

Analysts remain optimistic about Murphy USA. Royal Bank of Canada lowered its target price to $537.00 but maintained a “sector perform” rating. StockNews.com upgraded the stock from “hold” to “buy,” while Wells Fargo & Company and Raymond James both raised their target prices and maintained “overweight” and “outperform” ratings, respectively. Overall, the company has an average rating of “Moderate Buy” with an average price target of $469.50.

In insider news, Director Robert Madison Murphy sold 16,755 shares for a total value of $8,621,117.70, while Director James W. Keyes sold 2,000 shares for a total of $1,023,080.00. Insiders sold a total of 32,209 shares in the last quarter, representing 9.04% of the company’s stock.

Murphy USA Inc. specializes in retail motor fuel products and convenience merchandise. The company operates stores under the Murphy USA, Murphy Express, and QuickChek brands, primarily in the Southeast, Southwest, and Midwest United States.

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