WINTON GROUP Ltd acquired a new position in Cooper Standard Holdings Inc (NYSE:CPS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,138 shares of the auto parts company’s stock, valued at approximately $1,122,000. WINTON GROUP Ltd owned about 0.05% of Cooper Standard at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of CPS. Teacher Retirement System of Texas bought a new position in Cooper Standard during the fourth quarter worth $741,000. California Public Employees Retirement System increased its position in Cooper Standard by 18.1% during the fourth quarter. California Public Employees Retirement System now owns 17,559 shares of the auto parts company’s stock worth $2,151,000 after acquiring an additional 2,694 shares during the period. Swiss National Bank increased its position in Cooper Standard by 2.4% during the fourth quarter. Swiss National Bank now owns 30,200 shares of the auto parts company’s stock worth $3,700,000 after acquiring an additional 700 shares during the period. Wells Fargo & Company MN increased its position in Cooper Standard by 10.1% during the fourth quarter. Wells Fargo & Company MN now owns 246,945 shares of the auto parts company’s stock worth $30,250,000 after acquiring an additional 22,753 shares during the period. Finally, Arizona State Retirement System increased its position in Cooper Standard by 219.5% during the fourth quarter. Arizona State Retirement System now owns 26,518 shares of the auto parts company’s stock worth $3,248,000 after acquiring an additional 18,218 shares during the period. Institutional investors and hedge funds own 96.25% of the company’s stock.
Shares of Cooper Standard opened at $130.75 on Friday, Marketbeat.com reports. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 11.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.58 and a current ratio of 1.81. Cooper Standard Holdings Inc has a 52-week low of $95.33 and a 52-week high of $142.08.
Cooper Standard (NYSE:CPS) last issued its earnings results on Wednesday, May 2nd. The auto parts company reported $3.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $0.54. Cooper Standard had a net margin of 4.08% and a return on equity of 25.10%. The company had revenue of $967.39 million for the quarter, compared to the consensus estimate of $900.77 million. During the same quarter in the previous year, the company earned $2.95 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. analysts expect that Cooper Standard Holdings Inc will post 12.15 EPS for the current fiscal year.
Cooper Standard declared that its board has initiated a share repurchase plan on Wednesday, June 20th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Cooper Standard news, insider Sharon Wenzl sold 700 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $118.78, for a total transaction of $83,146.00. Following the transaction, the insider now directly owns 1,046 shares in the company, valued at approximately $124,243.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Keith Dwayne Stephenson sold 8,343 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $132.49, for a total transaction of $1,105,364.07. Following the transaction, the vice president now owns 80,899 shares in the company, valued at $10,718,308.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,486 shares of company stock worth $2,192,124. 3.00% of the stock is owned by corporate insiders.
A number of equities analysts recently issued reports on the stock. ValuEngine raised shares of Cooper Standard from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Zacks Investment Research raised shares of Cooper Standard from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Wednesday, April 25th. Finally, Bank of America boosted their price target on shares of Cooper Standard from $85.00 to $90.00 and gave the company an “underperform” rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $123.20.
About Cooper Standard
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.
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