Cooper Tire & Rubber Co (CTB) Holdings Boosted by BlackRock Inc.

BlackRock Inc. boosted its stake in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,480,493 shares of the company’s stock after purchasing an additional 295,428 shares during the period. BlackRock Inc. owned approximately 14.94% of Cooper Tire & Rubber worth $241,845,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Piedmont Investment Advisors Inc. increased its position in shares of Cooper Tire & Rubber by 3.3% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 11,971 shares of the company’s stock worth $387,000 after acquiring an additional 385 shares in the last quarter. KBC Group NV increased its position in shares of Cooper Tire & Rubber by 98.7% in the fourth quarter. KBC Group NV now owns 1,685 shares of the company’s stock worth $54,000 after acquiring an additional 837 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Cooper Tire & Rubber by 30.9% in the fourth quarter. First Mercantile Trust Co. now owns 4,360 shares of the company’s stock worth $141,000 after acquiring an additional 1,030 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth $39,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Cooper Tire & Rubber in the fourth quarter worth $63,000.

Several equities research analysts have recently issued reports on CTB shares. ValuEngine lowered shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. TheStreet lowered shares of Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a research report on Tuesday, March 12th. Northcoast Research set a $38.00 price objective on shares of Cooper Tire & Rubber and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a research report on Friday, January 18th. Finally, Zacks Investment Research lowered shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Cooper Tire & Rubber has a consensus rating of “Hold” and an average price target of $37.00.

CTB opened at $29.21 on Friday. The firm has a market cap of $1.46 billion, a P/E ratio of 13.40 and a beta of 0.61. Cooper Tire & Rubber Co has a twelve month low of $22.58 and a twelve month high of $35.36. The company has a quick ratio of 1.28, a current ratio of 1.92 and a debt-to-equity ratio of 0.10.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Tuesday, February 19th. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. The business had revenue of $770.50 million during the quarter, compared to analyst estimates of $773.82 million. Cooper Tire & Rubber had a net margin of 2.73% and a return on equity of 9.12%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS. Equities analysts forecast that Cooper Tire & Rubber Co will post 2.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, February 28th. Cooper Tire & Rubber’s payout ratio is 19.27%.

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About Cooper Tire & Rubber

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.

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

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