First Trust Advisors LP lowered its stake in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,971 shares of the company’s stock after selling 36,316 shares during the period. First Trust Advisors LP owned about 0.16% of Cooper Tire & Rubber worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in CTB. KBC Group NV boosted its holdings in Cooper Tire & Rubber by 98.7% during the fourth quarter. KBC Group NV now owns 1,685 shares of the company’s stock worth $54,000 after buying an additional 837 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Cooper Tire & Rubber in the fourth quarter valued at about $63,000. Tower Research Capital LLC TRC purchased a new stake in shares of Cooper Tire & Rubber in the third quarter valued at about $109,000. First Mercantile Trust Co. lifted its holdings 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 valued at $141,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Cooper Tire & Rubber in the third quarter valued at about $201,000.
Shares of NYSE CTB opened at $29.21 on Friday. Cooper Tire & Rubber Co has a 12-month low of $22.58 and a 12-month high of $35.36. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.40 and a beta of 0.61. The company has a current ratio of 1.92, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Tuesday, February 19th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, equities analysts predict that Cooper Tire & Rubber Co will post 2.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be given a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, February 28th. Cooper Tire & Rubber’s dividend payout ratio is presently 19.27%.
Several analysts have issued reports on CTB shares. ValuEngine raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Northcoast Research set a $38.00 price target on shares of Cooper Tire & Rubber and gave the company a “buy” rating in a report on Tuesday, November 20th. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a report on Friday, January 18th. Finally, TheStreet downgraded shares of Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.00.
Cooper Tire & Rubber Company Profile
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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