Dimensional Fund Advisors LP lessened its position in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,248,968 shares of the company’s stock after selling 8,227 shares during the period. Dimensional Fund Advisors LP owned approximately 8.49% of Cooper Tire & Rubber worth $120,247,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Brand Asset Management Group Inc. purchased a new stake in Cooper Tire & Rubber during the second quarter valued at about $107,000. Oppenheimer & Co. Inc. purchased a new stake in Cooper Tire & Rubber during the second quarter valued at about $230,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Cooper Tire & Rubber during the second quarter valued at about $281,000. Brandes Investment Partners LP purchased a new stake in Cooper Tire & Rubber during the second quarter valued at about $285,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Cooper Tire & Rubber during the third quarter valued at about $327,000.
Shares of NYSE CTB opened at $30.86 on Friday. Cooper Tire & Rubber Co has a 1-year low of $22.58 and a 1-year high of $40.78. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.61 billion, a PE ratio of 15.83, a P/E/G ratio of 3.87 and a beta of 0.63.
Cooper Tire & Rubber (NYSE:CTB) last issued its earnings results on Monday, October 29th. The company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.62. Cooper Tire & Rubber had a return on equity of 8.58% and a net margin of 1.25%. The company had revenue of $737.70 million during the quarter, compared to the consensus estimate of $748.54 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that Cooper Tire & Rubber Co will post 2.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, November 30th. Cooper Tire & Rubber’s payout ratio is 13.55%.
CTB has been the subject of a number of research reports. TheStreet raised Cooper Tire & Rubber from a “c+” rating to a “b-” rating in a research report on Wednesday, November 21st. Northcoast Research set a $38.00 price target on Cooper Tire & Rubber and gave the company a “buy” rating in a research report on Tuesday, November 20th. ValuEngine raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research report on Tuesday, August 21st. Finally, Zacks Investment Research raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.60.
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.
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