Royce & Associates LP Decreases Position in Cooper Tire & Rubber Company (CTB)

Royce & Associates LP trimmed its position in Cooper Tire & Rubber Company (NYSE:CTB) by 11.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,610,808 shares of the company’s stock after selling 344,531 shares during the period. Cooper Tire & Rubber accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 18th biggest holding. Royce & Associates LP owned about 5.09% of Cooper Tire & Rubber worth $97,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in shares of Cooper Tire & Rubber by 75.2% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the company’s stock valued at $145,000 after buying an additional 1,729 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of Cooper Tire & Rubber by 17.0% during the second quarter. LS Investment Advisors LLC now owns 4,311 shares of the company’s stock valued at $156,000 after buying an additional 627 shares during the last quarter. Flinton Capital Management LLC raised its holdings in shares of Cooper Tire & Rubber by 76.7% during the second quarter. Flinton Capital Management LLC now owns 4,452 shares of the company’s stock valued at $161,000 after buying an additional 1,932 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Cooper Tire & Rubber by 6.8% during the second quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after buying an additional 304 shares during the last quarter. Finally, ING Groep NV bought a new stake in shares of Cooper Tire & Rubber during the second quarter valued at approximately $232,000.

Shares of Cooper Tire & Rubber Company (NYSE CTB) opened at $36.20 on Wednesday. Cooper Tire & Rubber Company has a twelve month low of $31.55 and a twelve month high of $44.50. The company has a market capitalization of $1,871.49, a P/E ratio of 9.41, a P/E/G ratio of 1.18 and a beta of 0.07. The company has a current ratio of 2.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.24.

Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Monday, October 30th. The company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The firm had revenue of $733.80 million for the quarter, compared to analysts’ expectations of $779.02 million. During the same quarter in the previous year, the company earned $1.04 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. analysts expect that Cooper Tire & Rubber Company will post 3.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.42 annualized dividend and a yield of 1.16%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is 10.82%.

CTB has been the topic of a number of recent analyst reports. FBR & Co reaffirmed a “buy” rating and set a $53.00 price target on shares of Cooper Tire & Rubber in a report on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and set a $42.00 price target on shares of Cooper Tire & Rubber in a report on Wednesday, November 1st. Jefferies Group reaffirmed a “hold” rating and set a $35.00 price target on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, ValuEngine raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $44.00.

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Cooper Tire & Rubber Company Profile

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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Institutional Ownership by Quarter for Cooper Tire & Rubber (NYSE:CTB)

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