Axa bought a new position in Cooper Tire & Rubber Co (NYSE:CTB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 241,496 shares of the company’s stock, valued at approximately $8,537,000. Axa owned 0.47% of Cooper Tire & Rubber at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in CTB. Unison Advisors LLC acquired a new position in shares of Cooper Tire & Rubber in the fourth quarter worth about $224,000. Taylor Hoffman Wealth Management acquired a new position in shares of Cooper Tire & Rubber in the fourth quarter worth about $281,000. Crossmark Global Holdings Inc. acquired a new position in shares of Cooper Tire & Rubber in the third quarter worth about $299,000. New Mexico Educational Retirement Board acquired a new position in shares of Cooper Tire & Rubber in the fourth quarter worth about $456,000. Finally, BancorpSouth Bank acquired a new position in shares of Cooper Tire & Rubber in the fourth quarter worth about $480,000.
Several brokerages have commented on CTB. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Thursday, February 22nd. ValuEngine lowered shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. B. Riley reissued a “buy” rating and issued a $50.00 price target on shares of Cooper Tire & Rubber in a research report on Monday, December 11th. Longbow Research assumed coverage on shares of Cooper Tire & Rubber in a research report on Wednesday, January 31st. They issued a “buy” rating and a $50.00 price target for the company. Finally, Northcoast Research raised shares of Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.63.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.12). The company had revenue of $757.04 million during the quarter, compared to analysts’ expectations of $750.97 million. Cooper Tire & Rubber had a return on equity of 13.71% and a net margin of 3.34%. Cooper Tire & Rubber’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. research analysts anticipate that Cooper Tire & Rubber Co will post 3.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, February 28th. Cooper Tire & Rubber’s payout ratio is presently 14.63%.
In other Cooper Tire & Rubber news, Director Robert D. Welding acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average price of $32.30 per share, with a total value of $48,450.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $96,900. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.74% of the stock is currently owned by company insiders.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
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