Goldman Sachs Group Inc. Sells 28,214 Shares of Cooper Tire & Rubber Company (NYSE:CTB)

Goldman Sachs Group Inc. lessened its position in Cooper Tire & Rubber Company (NYSE:CTB) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,169 shares of the company’s stock after selling 28,214 shares during the quarter. Goldman Sachs Group Inc. owned 0.53% of Cooper Tire & Rubber worth $10,042,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CTB. BlackRock Inc. lifted its holdings in shares of Cooper Tire & Rubber by 36,940.2% in the 1st quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock worth $255,971,000 after acquiring an additional 5,756,018 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Cooper Tire & Rubber in the 2nd quarter worth about $25,270,000. State Street Corp lifted its holdings in shares of Cooper Tire & Rubber by 57.0% in the 1st quarter. State Street Corp now owns 1,758,619 shares of the company’s stock worth $77,994,000 after acquiring an additional 638,424 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Cooper Tire & Rubber in the 2nd quarter worth about $13,749,000. Finally, Royce & Associates LP lifted its holdings in shares of Cooper Tire & Rubber by 14.3% in the 2nd quarter. Royce & Associates LP now owns 2,955,339 shares of the company’s stock worth $106,688,000 after acquiring an additional 369,045 shares during the last quarter.

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Cooper Tire & Rubber Company (NYSE CTB) opened at 35.75 on Friday. Cooper Tire & Rubber Company has a 52-week low of $32.78 and a 52-week high of $44.50. The stock has a market cap of $1.87 billion and a P/E ratio of 9.89. The firm’s 50-day moving average is $36.12 and its 200-day moving average is $36.80.

Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The company had revenue of $720.75 million for the quarter, compared to analyst estimates of $775.00 million. Cooper Tire & Rubber had a net margin of 6.71% and a return on equity of 17.67%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. Equities research analysts predict that Cooper Tire & Rubber Company will post $3.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.17%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 11.67%.

CTB has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 price target on shares of Cooper Tire & Rubber in a research note on Sunday, September 10th. FBR & Co reaffirmed a “buy” rating and issued a $53.00 price target on shares of Cooper Tire & Rubber in a research note on Tuesday, September 5th. Deutsche Bank AG raised their price target on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.00.

About Cooper Tire & Rubber

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.

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

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