Entropy Technologies LP Decreases Holdings in Morningstar, Inc. (NASDAQ:MORN)

Entropy Technologies LP lessened its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,257 shares of the business services provider's stock after selling 1,600 shares during the period. Entropy Technologies LP's holdings in Morningstar were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in Morningstar in the second quarter worth approximately $530,000. GAMMA Investing LLC grew its position in shares of Morningstar by 71.0% during the 3rd quarter. GAMMA Investing LLC now owns 313 shares of the business services provider's stock valued at $100,000 after acquiring an additional 130 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Morningstar by 13.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,393 shares of the business services provider's stock worth $764,000 after purchasing an additional 278 shares in the last quarter. Cardinal Capital Management raised its holdings in Morningstar by 2.2% in the 3rd quarter. Cardinal Capital Management now owns 12,095 shares of the business services provider's stock worth $3,860,000 after purchasing an additional 256 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Morningstar during the third quarter valued at $30,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Morningstar from a "hold" rating to a "buy" rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $360.67.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,280 shares of Morningstar stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total value of $410,329.60. Following the completion of the transaction, the chairman now directly owns 10,130,378 shares of the company's stock, valued at $3,247,495,275.46. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jason Dubinsky sold 3,223 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares in the company, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,381 shares of company stock valued at $7,971,125. Corporate insiders own 39.90% of the company's stock.

Morningstar Price Performance

Shares of MORN traded down $3.78 during trading hours on Friday, reaching $325.02. 87,679 shares of the stock traded hands, compared to its average volume of 110,206. The company has a market cap of $13.94 billion, a P/E ratio of 42.94 and a beta of 1.20. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $333.28 and its two-hundred day moving average price is $329.14. Morningstar, Inc. has a 52-week low of $269.51 and a 52-week high of $365.00.

Morningstar Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 3rd will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, October 3rd. This is an increase from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio (DPR) is 24.04%.

Morningstar Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.