Thrivent Financial For Lutherans bought a new position in Cooper Tire & Rubber Company (NYSE:CTB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,910 shares of the company’s stock, valued at approximately $440,000.
Several other large investors have also recently added to or reduced their stakes in CTB. Renaissance Technologies LLC purchased a new stake in Cooper Tire & Rubber during the fourth quarter worth $6,472,000. New York State Teachers Retirement System increased its stake in Cooper Tire & Rubber by 2.1% in the fourth quarter. New York State Teachers Retirement System now owns 4,900 shares of the company’s stock worth $190,000 after buying an additional 100 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Cooper Tire & Rubber by 9.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,912 shares of the company’s stock worth $152,000 after buying an additional 323 shares during the last quarter. Guggenheim Capital LLC increased its stake in Cooper Tire & Rubber by 128.2% in the fourth quarter. Guggenheim Capital LLC now owns 35,270 shares of the company’s stock worth $1,370,000 after buying an additional 19,812 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cooper Tire & Rubber during the fourth quarter worth $29,062,000.
Shares of Cooper Tire & Rubber Company (CTB) opened at 38.60 on Friday. The company has a market cap of $2.04 billion, a P/E ratio of 9.55 and a beta of -0.02. The company has a 50-day moving average price of $36.41 and a 200-day moving average price of $38.69. Cooper Tire & Rubber Company has a 12-month low of $29.98 and a 12-month high of $44.50.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.12. Cooper Tire & Rubber had a net margin of 7.54% and a return on equity of 20.38%. The firm had revenue of $643.03 million for the quarter, compared to analyst estimates of $687.92 million. During the same period last year, the business earned $1.05 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Cooper Tire & Rubber Company will post $3.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 1st were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Tuesday, May 30th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is 10.45%.
A number of equities research analysts have recently weighed in on CTB shares. Northcoast Research downgraded Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 18th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, April 25th. Standpoint Research upgraded Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and set a $40.00 target price on shares of Cooper Tire & Rubber in a research report on Thursday, July 6th. Finally, BidaskClub upgraded Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Cooper Tire & Rubber currently has a consensus rating of “Hold” and a consensus price target of $41.57.
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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