California State Teachers Retirement System Sells 6,049 Shares of Cooper Tire & Rubber Co (CTB)

California State Teachers Retirement System trimmed its holdings in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,057 shares of the company’s stock after selling 6,049 shares during the period. California State Teachers Retirement System owned about 0.17% of Cooper Tire & Rubber worth $3,293,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Cooper Tire & Rubber by 7.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,672,900 shares of the company’s stock valued at $137,367,000 after purchasing an additional 242,886 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Cooper Tire & Rubber by 2.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 282,044 shares of the company’s stock worth $10,549,000 after buying an additional 6,367 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Cooper Tire & Rubber by 11.5% in the third quarter. Legal & General Group Plc now owns 86,158 shares of the company’s stock worth $3,222,000 after buying an additional 8,870 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Cooper Tire & Rubber by 8.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 36,675 shares of the company’s stock worth $1,372,000 after buying an additional 2,746 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Cooper Tire & Rubber by 1.7% in the third quarter. American International Group Inc. now owns 142,389 shares of the company’s stock worth $5,325,000 after buying an additional 2,339 shares during the last quarter.

Shares of Cooper Tire & Rubber Co (NYSE:CTB) opened at $40.20 on Wednesday. The company has a market capitalization of $2,043.26, a P/E ratio of 10.36 and a beta of 0.07. Cooper Tire & Rubber Co has a 12 month low of $31.55 and a 12 month high of $44.50. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.24.

Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Monday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.33. The firm had revenue of $733.80 million during the quarter, compared to analysts’ expectations of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. research analysts expect that Cooper Tire & Rubber Co will post 3.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were given a dividend of $0.105 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.04%. Cooper Tire & Rubber’s payout ratio is currently 10.82%.

Several equities analysts have recently issued reports on CTB shares. KeyCorp reissued a “buy” rating and set a $42.00 price target on shares of Cooper Tire & Rubber in a report on Wednesday, November 1st. B. Riley reissued a “buy” rating and set a $50.00 price target on shares of Cooper Tire & Rubber in a report on Monday, December 11th. FBR & Co reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. ValuEngine raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Cooper Tire & Rubber presently has an average rating of “Buy” and a consensus target price of $45.29.

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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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