MetLife Investment Advisors LLC reduced its stake in Cooper Standard Holdings Inc (NYSE:CPS) by 10.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,374 shares of the auto parts company’s stock after selling 875 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Cooper Standard were worth $906,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Cooper Standard by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 134,287 shares of the auto parts company’s stock valued at $16,492,000 after acquiring an additional 6,183 shares during the period. Koch Industries Inc. bought a new position in Cooper Standard in the 1st quarter valued at about $275,000. Chilton Investment Co. LLC bought a new position in Cooper Standard in the 1st quarter valued at about $1,319,000. Stifel Financial Corp raised its holdings in Cooper Standard by 8.5% in the 1st quarter. Stifel Financial Corp now owns 121,149 shares of the auto parts company’s stock valued at $14,862,000 after acquiring an additional 9,450 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Cooper Standard by 1.1% in the 1st quarter. Russell Investments Group Ltd. now owns 69,581 shares of the auto parts company’s stock valued at $8,546,000 after acquiring an additional 754 shares during the period. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cooper Standard opened at $136.09 on Tuesday, MarketBeat Ratings reports. The company has a current ratio of 1.81, a quick ratio of 1.58 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 11.74 and a beta of 0.73. Cooper Standard Holdings Inc has a 12-month low of $95.33 and a 12-month high of $142.08.
Cooper Standard (NYSE:CPS) last posted its quarterly earnings results on Wednesday, May 2nd. The auto parts company reported $3.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.54. The business had revenue of $967.39 million for the quarter, compared to analyst estimates of $900.77 million. Cooper Standard had a net margin of 4.08% and a return on equity of 25.10%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. equities analysts expect that Cooper Standard Holdings Inc will post 12.15 earnings per share for the current fiscal year.
Cooper Standard announced that its board has initiated a stock buyback program on Wednesday, June 20th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of research analysts have issued reports on CPS shares. ValuEngine lowered shares of Cooper Standard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Cooper Standard from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research report on Wednesday, April 25th. Finally, Bank of America increased their target price on shares of Cooper Standard from $85.00 to $90.00 and gave the stock an “underperform” rating in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Cooper Standard presently has a consensus rating of “Hold” and an average price target of $123.20.
In related news, SVP William Pumphrey sold 7,443 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $134.84, for a total transaction of $1,003,614.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Keith Dwayne Stephenson sold 8,343 shares of the stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $132.49, for a total transaction of $1,105,364.07. Following the sale, the vice president now owns 80,899 shares in the company, valued at approximately $10,718,308.51. The disclosure for this sale can be found here. Insiders have sold a total of 16,486 shares of company stock worth $2,192,124 in the last quarter. 3.00% of the stock is currently owned by company insiders.
Cooper Standard Profile
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
Want to see what other hedge funds are holding CPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cooper Standard Holdings Inc (NYSE:CPS).
Receive News & Ratings for Cooper Standard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Standard and related companies with MarketBeat.com's FREE daily email newsletter.