Dundas Partners LLP Acquires 623 Shares of Morningstar, Inc. (NASDAQ:MORN)

Dundas Partners LLP lifted its position in Morningstar, Inc. (NASDAQ:MORN) by 69.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,522 shares of the business services provider’s stock after purchasing an additional 623 shares during the period. Dundas Partners LLP’s holdings in Morningstar were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MORN. Massachusetts Financial Services Co. MA raised its stake in shares of Morningstar by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock worth $383,489,000 after acquiring an additional 102,206 shares in the last quarter. Wasatch Advisors LP grew its position in Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock worth $222,115,000 after purchasing an additional 85,098 shares during the period. Raymond James Financial Inc. purchased a new stake in Morningstar in the 4th quarter worth approximately $16,497,000. FMR LLC increased its holdings in Morningstar by 10.9% in the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock valued at $127,814,000 after buying an additional 39,263 shares in the last quarter. Finally, DF Dent & Co. Inc. boosted its position in Morningstar by 61.3% during the third quarter. DF Dent & Co. Inc. now owns 88,378 shares of the business services provider’s stock worth $28,203,000 after purchasing an additional 33,595 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jason Dubinsky sold 3,223 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. This trade represents a 15.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $301.10, for a total value of $2,728,568.20. Following the completion of the transaction, the chairman now directly owns 10,047,332 shares of the company’s stock, valued at $3,025,251,665.20. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,703 shares of company stock valued at $17,349,106 in the last ninety days. Insiders own 39.90% of the company’s stock.

Morningstar Price Performance

Morningstar stock opened at $290.65 on Friday. The company’s 50 day simple moving average is $323.48 and its 200-day simple moving average is $329.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. Morningstar, Inc. has a 1 year low of $281.37 and a 1 year high of $365.00. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 38.40 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Morningstar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 3rd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This is a boost from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 0.63%. Morningstar’s dividend payout ratio (DPR) is currently 21.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MORN. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets reduced their target price on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

About Morningstar

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.