Oak Ridge Investments LLC Has $32.94 Million Holdings in Core-Mark Holding Company, Inc. (NASDAQ:CORE)

Oak Ridge Investments LLC raised its stake in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 996,341 shares of the business services provider’s stock after purchasing an additional 19,170 shares during the quarter. Oak Ridge Investments LLC owned approximately 2.15% of Core-Mark Holding worth $32,939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Stephens Inc. AR increased its position in Core-Mark Holding by 0.4% during the 1st quarter. Stephens Inc. AR now owns 10,250 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 38 shares during the period. State of Alaska Department of Revenue increased its position in Core-Mark Holding by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its position in Core-Mark Holding by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 24,200 shares of the business services provider’s stock valued at $800,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund increased its position in Core-Mark Holding by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 33,817 shares of the business services provider’s stock valued at $1,118,000 after purchasing an additional 284 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Core-Mark Holding by 1.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 300 shares during the period. 98.27% of the stock is currently owned by institutional investors and hedge funds.

Core-Mark Holding Company, Inc. (CORE) traded up 2.76% during mid-day trading on Friday, hitting $29.43. 471,458 shares of the stock were exchanged. Core-Mark Holding Company, Inc. has a 52-week low of $26.08 and a 52-week high of $44.12. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 33.07 and a beta of 0.94. The stock has a 50 day moving average of $29.39 and a 200-day moving average of $32.62.

Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.11). The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.96 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities analysts predict that Core-Mark Holding Company, Inc. will post $1.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. Core-Mark Holding’s payout ratio is currently 40.00%.

Core-Mark Holding announced that its board has authorized a stock repurchase plan on Monday, August 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of research analysts have issued reports on CORE shares. Loop Capital reissued a “buy” rating and set a $40.00 price objective on shares of Core-Mark Holding in a research report on Monday, July 10th. Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group LLC reduced their target price on shares of Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, August 9th. ValuEngine raised shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub raised shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Core-Mark Holding currently has a consensus rating of “Hold” and a consensus price target of $40.00.

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.

Institutional Ownership by Quarter for Core-Mark Holding (NASDAQ:CORE)

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