Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 12.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,935 shares of the specialty retailer’s stock after acquiring an additional 4,880 shares during the period. KAR Auction Services makes up 2.0% of Farmers & Merchants Trust Co of Chambersburg PA’s investment portfolio, making the stock its 13th biggest position. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in KAR Auction Services were worth $2,306,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Partners increased its stake in shares of KAR Auction Services by 98.1% in the fourth quarter. Boston Partners now owns 5,470,361 shares of the specialty retailer’s stock worth $261,045,000 after purchasing an additional 2,708,310 shares in the last quarter. First Manhattan Co. raised its position in KAR Auction Services by 63.5% during the first quarter. First Manhattan Co. now owns 3,261,519 shares of the specialty retailer’s stock worth $167,348,000 after acquiring an additional 1,266,287 shares during the period. Norges Bank acquired a new position in KAR Auction Services during the fourth quarter worth $58,745,000. Point72 Asset Management L.P. acquired a new position in KAR Auction Services during the third quarter worth $24,094,000. Finally, Vanguard Group Inc raised its position in KAR Auction Services by 2.1% during the third quarter. Vanguard Group Inc now owns 12,750,324 shares of the specialty retailer’s stock worth $761,067,000 after acquiring an additional 260,521 shares during the period.
Shares of KAR traded up $0.23 during mid-day trading on Monday, hitting $53.68. 404,296 shares of the company’s stock were exchanged, compared to its average volume of 1,834,523. The stock has a market capitalization of $7.14 billion, a PE ratio of 18.14, a P/E/G ratio of 1.71 and a beta of 1.11. KAR Auction Services Inc has a fifty-two week low of $43.32 and a fifty-two week high of $64.55. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.26 and a current ratio of 1.26.
KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. KAR Auction Services had a net margin of 8.70% and a return on equity of 26.46%. The firm had revenue of $929.00 million for the quarter, compared to analysts’ expectations of $936.37 million. On average, sell-side analysts predict that KAR Auction Services Inc will post 2.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 22nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, March 21st. KAR Auction Services’s dividend payout ratio is currently 47.30%.
KAR has been the subject of a number of research analyst reports. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, February 20th. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 16th. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 target price on shares of KAR Auction Services in a research report on Wednesday, February 20th. Finally, SunTrust Banks decreased their target price on shares of KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. KAR Auction Services currently has a consensus rating of “Buy” and a consensus price target of $63.00.
KAR Auction Services Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
Further Reading: Book Value Per Share in Stock Trading
Want to see what other hedge funds are holding KAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KAR Auction Services Inc (NYSE:KAR).
Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.