Cooper Tire & Rubber Company (CTB) Position Lowered by Stevens Capital Management LP

Stevens Capital Management LP cut its position in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 70.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,877 shares of the company’s stock after selling 28,381 shares during the period. Stevens Capital Management LP’s holdings in Cooper Tire & Rubber were worth $444,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cipher Capital LP boosted its position in Cooper Tire & Rubber by 679.0% in the 2nd quarter. Cipher Capital LP now owns 45,647 shares of the company’s stock valued at $1,648,000 after buying an additional 39,787 shares during the period. Vanguard Group Inc. boosted its position in Cooper Tire & Rubber by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock valued at $157,060,000 after buying an additional 20,738 shares during the period. Victory Capital Management Inc. boosted its position in Cooper Tire & Rubber by 39.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,047,537 shares of the company’s stock valued at $37,817,000 after buying an additional 296,340 shares during the period. Federated Investors Inc. PA boosted its position in Cooper Tire & Rubber by 2.6% in the 2nd quarter. Federated Investors Inc. PA now owns 152,705 shares of the company’s stock valued at $5,513,000 after buying an additional 3,871 shares during the period. Finally, Icon Advisers Inc. Co. purchased a new stake in Cooper Tire & Rubber in the 2nd quarter valued at about $282,000.

Cooper Tire & Rubber Company (NYSE:CTB) opened at $33.95 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67. Cooper Tire & Rubber Company has a 52 week low of $31.55 and a 52 week high of $44.50. The stock has a market cap of $1,766.38, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 1.12 and a beta of -0.01.

Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.56%. The business had revenue of $733.80 million for the quarter, compared to analyst estimates of $779.02 million. During the same quarter in the prior year, the business posted $1.04 EPS. Cooper Tire & Rubber’s revenue for the quarter was down 2.3% compared to the same quarter last year. equities research analysts expect that Cooper Tire & Rubber Company will post 3.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.24%. Cooper Tire & Rubber’s payout ratio is 10.82%.

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Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. FBR & Co restated 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 shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, July 24th. Deutsche Bank AG boosted their price target on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $40.00 price target on shares of Cooper Tire & Rubber in a report on Sunday, September 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Cooper Tire & Rubber has a consensus rating of “Hold” and an average price target of $44.00.

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

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