IBM Retirement Fund lowered its stake in shares of KAR Auction Services, Inc (NYSE:KAR) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,972 shares of the company’s stock after selling 941 shares during the period. IBM Retirement Fund’s holdings in KAR Auction Services were worth $560,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of KAR Auction Services by 0.3% in the third quarter. Bank of Montreal Can now owns 3,290 shares of the company’s stock valued at $142,000 after buying an additional 10 shares during the last quarter. Pitcairn Co. increased its position in shares of KAR Auction Services by 0.4% in the second quarter. Pitcairn Co. now owns 6,896 shares of the company’s stock valued at $288,000 after buying an additional 25 shares during the last quarter. MAI Capital Management increased its position in shares of KAR Auction Services by 4.3% in the third quarter. MAI Capital Management now owns 6,458 shares of the company’s stock valued at $279,000 after buying an additional 266 shares during the last quarter. Wealthsource Partners LLC increased its position in shares of KAR Auction Services by 2.3% in the second quarter. Wealthsource Partners LLC now owns 12,379 shares of the company’s stock valued at $517,000 after buying an additional 275 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of KAR Auction Services by 6.0% in the second quarter. Advisors Asset Management Inc. now owns 7,981 shares of the company’s stock valued at $333,000 after buying an additional 455 shares during the last quarter.

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

Shares of KAR Auction Services, Inc (NYSE:KAR) traded up 0.35% on Friday, reaching $45.66. The company’s stock had a trading volume of 726,651 shares. The firm has a 50 day moving average price of $43.13 and a 200-day moving average price of $42.30. KAR Auction Services, Inc has a 12-month low of $31.54 and a 12-month high of $45.75. The stock has a market cap of $6.31 billion, a PE ratio of 28.20 and a beta of 1.36.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.03. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. The firm earned $773.80 million during the quarter, compared to analysts’ expectations of $770.84 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. KAR Auction Services’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts expect that KAR Auction Services, Inc will post $2.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Wednesday, December 21st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.80%. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, December 19th. KAR Auction Services’s dividend payout ratio is currently 79.01%.

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Separately, Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Tuesday, October 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. KAR Auction Services currently has an average rating of “Buy” and an average target price of $43.71.

In other news, COO Donald S. Gottwald sold 18,125 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $38.51, for a total value of $697,993.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kelly Peter sold 15,000 shares of the business’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $42.19, for a total value of $632,850.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

5 Day Chart for NYSE:KAR

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