Alliancebernstein L.P. trimmed its holdings in Cooper Tire & Rubber Co (NYSE:CTB) by 36.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,853 shares of the company’s stock after selling 45,390 shares during the period. Alliancebernstein L.P.’s holdings in Cooper Tire & Rubber were worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Hudson Bay Capital Management LP lifted its stake in shares of Cooper Tire & Rubber by 110.5% in the fourth quarter. Hudson Bay Capital Management LP now owns 104,302 shares of the company’s stock valued at $3,687,000 after buying an additional 54,748 shares in the last quarter. Capital Investment Counsel Inc lifted its position in shares of Cooper Tire & Rubber by 17.2% during the fourth quarter. Capital Investment Counsel Inc now owns 16,050 shares of the company’s stock valued at $567,000 after purchasing an additional 2,350 shares in the last quarter. BancorpSouth Bank bought a new position in shares of Cooper Tire & Rubber during the fourth quarter valued at about $480,000. OppenheimerFunds Inc. lifted its position in shares of Cooper Tire & Rubber by 7.1% during the fourth quarter. OppenheimerFunds Inc. now owns 24,653 shares of the company’s stock valued at $872,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Taylor Hoffman Wealth Management bought a new position in shares of Cooper Tire & Rubber during the fourth quarter valued at about $281,000.
CTB has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, January 12th. Longbow Research started coverage on shares of Cooper Tire & Rubber in a research report on Wednesday, January 31st. They set a “buy” rating and a $50.00 price target on the stock. B. Riley restated a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Monday, December 11th. JPMorgan Chase decreased their price objective on shares of Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, TheStreet downgraded shares of Cooper Tire & Rubber from a “b” rating to a “c” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Cooper Tire & Rubber currently has a consensus rating of “Hold” and an average target price of $43.63.
NYSE CTB opened at $30.15 on Friday. Cooper Tire & Rubber Co has a 52-week low of $28.10 and a 52-week high of $44.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.75 and a quick ratio of 1.73. The stock has a market cap of $1,452.82, a P/E ratio of 9.73 and a beta of 0.43.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.12). Cooper Tire & Rubber had a return on equity of 13.71% and a net margin of 3.34%. The company had revenue of $757.04 million for the quarter, compared to analysts’ expectations of $750.97 million. During the same quarter last year, the business posted $1.30 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. equities research analysts anticipate that Cooper Tire & Rubber Co will post 3.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 1st were issued a dividend of $0.105 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.42 dividend on an annualized basis and a yield of 1.39%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 13.55%.
In other Cooper Tire & Rubber news, Director Robert D. Welding bought 1,500 shares of Cooper Tire & Rubber stock in a transaction dated Friday, March 9th. The stock was purchased at an average price of $32.30 per share, for a total transaction of $48,450.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $96,900. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.74% of the stock is owned by company insiders.
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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.
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