JPMorgan Chase & Co. trimmed its stake in Cooper-Standard Holdings Inc. (NYSE:CPS) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 380,111 shares of the auto parts company’s stock after selling 12,771 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.17% of Cooper-Standard worth $44,465,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CPS. Alliancebernstein L.P. grew its stake in Cooper-Standard by 2,433.2% in the second quarter. Alliancebernstein L.P. now owns 526,902 shares of the auto parts company’s stock valued at $53,149,000 after purchasing an additional 506,102 shares in the last quarter. BlackRock Inc. grew its stake in Cooper-Standard by 6.3% in the second quarter. BlackRock Inc. now owns 2,205,700 shares of the auto parts company’s stock valued at $222,489,000 after purchasing an additional 129,820 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in shares of Cooper-Standard in the third quarter valued at approximately $11,413,000. Renaissance Technologies LLC lifted its position in shares of Cooper-Standard by 23.6% in the second quarter. Renaissance Technologies LLC now owns 415,200 shares of the auto parts company’s stock valued at $41,881,000 after buying an additional 79,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Cooper-Standard by 3.5% in the second quarter. Vanguard Group Inc. now owns 2,036,130 shares of the auto parts company’s stock valued at $205,384,000 after buying an additional 68,126 shares during the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.
In other Cooper-Standard news, insider Miguel Posada Juan Fernando De sold 3,028 shares of Cooper-Standard stock in a transaction on Friday, November 10th. The stock was sold at an average price of $119.38, for a total value of $361,482.64. Following the completion of the transaction, the insider now directly owns 16,389 shares of the company’s stock, valued at approximately $1,956,518.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sharon Wenzl sold 585 shares of Cooper-Standard stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $125.98, for a total value of $73,698.30. Following the completion of the transaction, the insider now owns 2,990 shares in the company, valued at approximately $376,680.20. The disclosure for this sale can be found here. Insiders sold a total of 209,950 shares of company stock valued at $24,347,124 over the last ninety days. Insiders own 1.10% of the company’s stock.
Shares of Cooper-Standard Holdings Inc. (CPS) opened at $117.98 on Friday. The firm has a market capitalization of $2,068.31, a P/E ratio of 11.28, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.52 and a current ratio of 1.75. Cooper-Standard Holdings Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $128.52.
Cooper-Standard (NYSE:CPS) last announced its quarterly earnings data on Tuesday, October 31st. The auto parts company reported $2.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.36 by ($0.25). The company had revenue of $869.02 million during the quarter, compared to analyst estimates of $844.14 million. Cooper-Standard had a net margin of 3.88% and a return on equity of 24.99%. Cooper-Standard’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.48 earnings per share. analysts predict that Cooper-Standard Holdings Inc. will post 10.84 earnings per share for the current year.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Cooper-Standard from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Goldman Sachs Group cut Cooper-Standard from a “buy” rating to a “neutral” rating and set a $113.00 price objective for the company. in a research report on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of Cooper-Standard in a research report on Friday, November 17th. Roth Capital raised their price objective on Cooper-Standard from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Buckingham Research dropped their price target on Cooper-Standard from $131.00 to $129.00 and set a “buy” rating for the company in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Cooper-Standard has an average rating of “Hold” and a consensus price target of $117.17.
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Cooper-Standard Company Profile
Cooper-Standard Holdings Inc is a holding company. The Company designs, manufactures and sells sealing, fuel and brake delivery, fluid transfer and anti-vibration systems for use in passenger vehicles and light trucks manufactured by global original equipment manufacturers (OEMs). The Company operates through four segments: North America, Europe, Asia Pacific and South America.
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