Parametric Portfolio Associates LLC lessened its position in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,630 shares of the company’s stock after selling 3,590 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.38% of Cooper Tire & Rubber worth $7,279,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Partners Fund LP acquired a new position in Cooper Tire & Rubber during the first quarter worth about $110,000. Riverhead Capital Management LLC boosted its position in Cooper Tire & Rubber by 75.2% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock worth $145,000 after acquiring an additional 1,729 shares during the last quarter. LS Investment Advisors LLC raised its stake in Cooper Tire & Rubber by 17.0% during the second quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock worth $156,000 after purchasing an additional 627 shares during the period. BlueCrest Capital Management Ltd purchased a new position in Cooper Tire & Rubber during the first quarter worth about $204,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Cooper Tire & Rubber during the first quarter worth about $210,000.
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Shares of Cooper Tire & Rubber Company (NYSE CTB) traded down 1.92% during trading on Friday, reaching $35.75. 893,811 shares of the company’s stock were exchanged. The company’s 50-day moving average is $36.12 and its 200 day moving average is $36.80. The stock has a market capitalization of $1.87 billion and a PE ratio of 9.89. Cooper Tire & Rubber Company has a 52 week low of $32.78 and a 52 week high of $44.50.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Friday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $720.75 million during the quarter, compared to analysts’ expectations of $775.00 million. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. On average, analysts forecast that Cooper Tire & Rubber Company will post $3.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.17%. Cooper Tire & Rubber’s payout ratio is currently 11.67%.
A number of equities research analysts have recently issued reports on CTB shares. FBR & Co restated a “buy” rating and issued a $53.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, September 5th. Jefferies Group LLC restated a “hold” rating and issued a $40.00 price objective on shares of Cooper Tire & Rubber in a report on Thursday, July 6th. BidaskClub upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, August 1st. Finally, Deutsche Bank AG boosted their price target on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.
Cooper Tire & Rubber Profile
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.
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