Bank of New York Mellon Corp Buys 12,676 Shares of Cooper Tire & Rubber Co (CTB)

Bank of New York Mellon Corp boosted its stake in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 817,192 shares of the company’s stock after purchasing an additional 12,676 shares during the period. Bank of New York Mellon Corp owned 1.62% of Cooper Tire & Rubber worth $21,492,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTB. Rhumbline Advisers lifted its position in shares of Cooper Tire & Rubber by 24.8% in the second quarter. Rhumbline Advisers now owns 136,979 shares of the company’s stock valued at $3,603,000 after buying an additional 27,185 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Cooper Tire & Rubber in the second quarter valued at approximately $14,643,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Cooper Tire & Rubber in the second quarter valued at approximately $311,000. AMG Funds LLC lifted its position in shares of Cooper Tire & Rubber by 6.2% in the first quarter. AMG Funds LLC now owns 54,554 shares of the company’s stock valued at $1,598,000 after buying an additional 3,207 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Cooper Tire & Rubber by 0.8% in the second quarter. Boston Partners now owns 897,981 shares of the company’s stock valued at $23,617,000 after buying an additional 7,519 shares during the last quarter.

A number of analysts have recently issued reports on CTB shares. Northcoast Research reaffirmed a “buy” rating on shares of Cooper Tire & Rubber in a research report on Monday, June 25th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research report on Monday, August 6th. Zacks Investment Research raised Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, ValuEngine raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.00.

NYSE:CTB opened at $30.20 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of 9.74, a PEG ratio of 5.21 and a beta of 0.64. The company has a quick ratio of 1.53, a current ratio of 2.58 and a debt-to-equity ratio of 0.25. Cooper Tire & Rubber Co has a 1-year low of $22.58 and a 1-year high of $40.78.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, August 6th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $679.75 million. Cooper Tire & Rubber had a return on equity of 9.24% and a net margin of 1.53%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. equities research analysts forecast that Cooper Tire & Rubber Co will post 1.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.42 annualized dividend and a yield of 1.39%. Cooper Tire & Rubber’s payout ratio is currently 13.55%.

Cooper Tire & Rubber Profile

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

Recommended Story: Earnings Per Share

Institutional Ownership by Quarter for Cooper Tire & Rubber (NYSE:CTB)

Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply