Schroder Investment Management Group trimmed its stake in Cooper Tire & Rubber Company (NYSE:CTB) by 31.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 278,279 shares of the company’s stock after selling 126,700 shares during the period. Schroder Investment Management Group owned approximately 0.53% of Cooper Tire & Rubber worth $10,060,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. FNY Partners Fund LP bought a new stake in shares of Cooper Tire & Rubber in the 1st quarter valued at approximately $110,000. Flinton Capital Management LLC bought a new stake in shares of Cooper Tire & Rubber during the 1st quarter worth approximately $112,000. Neuburgh Advisers LLC bought a new stake in shares of Cooper Tire & Rubber during the 1st quarter worth approximately $136,000. LS Investment Advisors LLC bought a new stake in shares of Cooper Tire & Rubber during the 1st quarter worth approximately $163,000. Finally, Strs Ohio lifted its stake in shares of Cooper Tire & Rubber by 81.0% during the 1st quarter. Strs Ohio now owns 3,800 shares of the company’s stock worth $168,000 after acquiring an additional 1,700 shares during the last quarter. 94.58% of the stock is owned by institutional investors and hedge funds.
Shares of Cooper Tire & Rubber Company (NYSE:CTB) opened at 34.25 on Friday. Cooper Tire & Rubber Company has a 52-week low of $32.78 and a 52-week high of $44.50. The stock has a 50 day moving average price of $34.35 and a 200-day moving average price of $38.00. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.47 and a beta of -0.03.
Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Cooper Tire & Rubber had a net margin of 6.71% and a return on equity of 17.67%. The business had revenue of $720.75 million during the quarter, compared to analysts’ expectations of $775.00 million. During the same period last year, the company posted $1.27 EPS. The company’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts predict that Cooper Tire & Rubber Company will post $3.40 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.105 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.23%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is 11.67%.
CTB has been the topic of several research reports. BidaskClub downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. FBR & Co reiterated a “buy” rating and issued a $53.00 price target on shares of Cooper Tire & Rubber in a report on Tuesday, September 5th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, July 24th. Deutsche Bank AG raised their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $40.00 price objective on shares of Cooper Tire & Rubber in a research report on Sunday, September 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.00.
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Cooper Tire & Rubber 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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