MTM Investment Management LLC Decreases Stake in Star Group, L.P. (NYSE:SGU)

MTM Investment Management LLC decreased its position in Star Group, L.P. (NYSE:SGU) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,126 shares of the pipeline company’s stock after selling 2,298 shares during the period. MTM Investment Management LLC’s holdings in Star Group were worth $140,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SGU. JPMorgan Chase & Co. increased its stake in shares of Star Group by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 622,573 shares of the pipeline company’s stock worth $7,309,000 after purchasing an additional 66,806 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Star Group during the 3rd quarter worth approximately $566,000. GSA Capital Partners LLP increased its stake in shares of Star Group by 89.4% during the 3rd quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock worth $269,000 after purchasing an additional 10,799 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in Star Group in the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 40.36% of the company’s stock.

Star Group Stock Down 0.2 %

Shares of NYSE:SGU opened at $12.69 on Thursday. The firm has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $11.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.83 and a quick ratio of 0.64. Star Group, L.P. has a one year low of $9.64 and a one year high of $12.99. The company has a market cap of $438.65 million, a price-to-earnings ratio of 12.20 and a beta of 0.48.

Star Group (NYSE:SGU) last announced its quarterly earnings results on Wednesday, February 5th. The pipeline company reported $0.79 EPS for the quarter. Star Group had a net margin of 3.19% and a return on equity of 18.47%.

Star Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Monday, January 27th were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Monday, January 27th. Star Group’s payout ratio is 66.35%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Star Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 7th.

About Star Group

Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis.