Point72 Asset Management L.P. raised its position in Cooper Tire & Rubber Co (NYSE:CTB) by 126.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,357 shares of the company’s stock after buying an additional 315,335 shares during the quarter. Point72 Asset Management L.P. owned 1.12% of Cooper Tire & Rubber worth $16,225,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CTB. State Street Corp lifted its holdings in shares of Cooper Tire & Rubber by 2.1% during the fourth quarter. State Street Corp now owns 1,624,491 shares of the company’s stock worth $46,704,000 after buying an additional 32,866 shares in the last quarter. Fairpointe Capital LLC raised its stake in Cooper Tire & Rubber by 5.1% in the 3rd quarter. Fairpointe Capital LLC now owns 1,575,338 shares of the company’s stock worth $41,148,000 after purchasing an additional 76,496 shares in the last quarter. Royce & Associates LP raised its stake in Cooper Tire & Rubber by 10.1% in the 4th quarter. Royce & Associates LP now owns 1,450,487 shares of the company’s stock worth $41,702,000 after purchasing an additional 133,487 shares in the last quarter. Investment Counselors of Maryland LLC raised its stake in Cooper Tire & Rubber by 1.7% in the 4th quarter. Investment Counselors of Maryland LLC now owns 979,832 shares of the company’s stock worth $28,170,000 after purchasing an additional 16,689 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Cooper Tire & Rubber by 2.6% in the 4th quarter. Russell Investments Group Ltd. now owns 702,955 shares of the company’s stock valued at $20,212,000 after purchasing an additional 17,977 shares during the period. 98.05% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on CTB shares. B. Riley reaffirmed a “buy” rating and set a $40.00 target price on shares of Cooper Tire & Rubber in a report on Friday, December 13th. JPMorgan Chase & Co. cut their price target on Cooper Tire & Rubber from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, TheStreet downgraded Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Cooper Tire & Rubber currently has an average rating of “Hold” and an average target price of $34.50.
CTB traded up $0.02 on Thursday, hitting $18.81. 603,305 shares of the stock were exchanged, compared to its average volume of 401,257. Cooper Tire & Rubber Co has a 12 month low of $13.82 and a 12 month high of $33.35. The business has a 50-day moving average of $24.01 and a two-hundred day moving average of $26.78. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.41 and a quick ratio of 1.64. The firm has a market capitalization of $992.94 million, a price-to-earnings ratio of 9.80 and a beta of 0.61.
Cooper Tire & Rubber (NYSE:CTB) last issued its earnings results on Monday, February 24th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.67 by $0.35. The company had revenue of $750.20 million during the quarter, compared to analysts’ expectations of $740.18 million. Cooper Tire & Rubber had a net margin of 3.50% and a return on equity of 7.87%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. Equities research analysts expect that Cooper Tire & Rubber Co will post 2.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.105 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.42 annualized dividend and a yield of 2.23%. Cooper Tire & Rubber’s dividend payout ratio is currently 21.99%.
Cooper Tire & Rubber Company Profile
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.
Featured Story: What is a short straddle?
Want to see what other hedge funds are holding CTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cooper Tire & Rubber Co (NYSE:CTB).
Receive News & Ratings for Cooper Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.