Comerica Bank increased its position in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 209.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 142,499 shares of the business services provider’s stock after buying an additional 96,441 shares during the period. Comerica Bank owned approximately 0.31% of Core-Mark Holding worth $5,269,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Core-Mark Holding by 6.0% in the second quarter. Legal & General Group Plc now owns 129,887 shares of the business services provider’s stock worth $4,292,000 after buying an additional 7,358 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Core-Mark Holding by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 915,343 shares of the business services provider’s stock worth $30,261,000 after buying an additional 164,118 shares in the last quarter. First Trust Advisors LP raised its position in shares of Core-Mark Holding by 90.7% in the second quarter. First Trust Advisors LP now owns 23,195 shares of the business services provider’s stock worth $767,000 after buying an additional 11,034 shares in the last quarter. Arizona State Retirement System raised its position in shares of Core-Mark Holding by 0.4% in the second quarter. Arizona State Retirement System now owns 24,200 shares of the business services provider’s stock worth $800,000 after buying an additional 100 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Core-Mark Holding by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 275,331 shares of the business services provider’s stock worth $9,103,000 after buying an additional 22,875 shares in the last quarter. Hedge funds and other institutional investors own 98.27% of the company’s stock.
Core-Mark Holding Company, Inc. (CORE) opened at 26.91 on Friday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 30.24 and a beta of 0.87. Core-Mark Holding Company, Inc. has a 52 week low of $26.08 and a 52 week high of $45.57. The firm’s 50 day moving average price is $32.97 and its 200-day moving average price is $33.21.
Core-Mark Holding (NASDAQ:CORE) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.11. Core-Mark Holding had a return on equity of 9.70% and a net margin of 0.27%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. Analysts expect that Core-Mark Holding Company, Inc. will post $1.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, August 25th. Core-Mark Holding’s dividend payout ratio is 40.00%.
A number of brokerages have weighed in on CORE. Loop Capital reissued a “buy” rating and set a $40.00 price target on shares of Core-Mark Holding in a research note on Monday, July 10th. ValuEngine lowered Core-Mark Holding from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. set a $35.00 price target on Core-Mark Holding and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Core-Mark Holding currently has a consensus rating of “Hold” and a consensus target price of $40.00.
In related news, VP William Stein sold 7,500 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $35.91, for a total value of $269,325.00. Following the completion of the transaction, the vice president now owns 73,402 shares of the company’s stock, valued at $2,635,865.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Rolheiser sold 11,470 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $35.10, for a total transaction of $402,597.00. Following the completion of the transaction, the insider now directly owns 5,016 shares of the company’s stock, valued at approximately $176,061.60. The disclosure for this sale can be found here. Insiders have sold 40,970 shares of company stock valued at $1,435,622 in the last three months. 2.40% of the stock is owned by insiders.
About Core-Mark Holding
Core-Mark Holding Company, Inc is a wholesale distributor to the convenience retail industry in North America. The Company provides sales, marketing, distribution and logistics services. As of December 31, 2016, the Company offered services to over 43,000 customer locations across the United States and Canada through 30 distribution centers.
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