Cooper Tire & Rubber Co (CTB) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its holdings in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 36.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,335 shares of the company’s stock after selling 6,370 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cooper Tire & Rubber were worth $332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CTB. Schwab Charles Investment Management Inc. increased its position in Cooper Tire & Rubber by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 294,939 shares of the company’s stock worth $10,427,000 after purchasing an additional 12,895 shares in the last quarter. SG Americas Securities LLC increased its position in Cooper Tire & Rubber by 269.3% during the 4th quarter. SG Americas Securities LLC now owns 14,082 shares of the company’s stock worth $498,000 after purchasing an additional 10,269 shares in the last quarter. US Bancorp DE increased its position in Cooper Tire & Rubber by 26.5% during the 4th quarter. US Bancorp DE now owns 17,057 shares of the company’s stock worth $603,000 after purchasing an additional 3,575 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Cooper Tire & Rubber by 20.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,628 shares of the company’s stock worth $340,000 after purchasing an additional 1,629 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Cooper Tire & Rubber by 3.4% during the 4th quarter. California Public Employees Retirement System now owns 199,409 shares of the company’s stock worth $7,049,000 after purchasing an additional 6,577 shares in the last quarter.

A number of research firms recently issued reports on CTB. ValuEngine downgraded shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. JPMorgan Chase & Co. dropped their target price on shares of Cooper Tire & Rubber from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, May 1st. B. Riley dropped their target price on shares of Cooper Tire & Rubber from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, May 1st. Longbow Research downgraded shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Tuesday, March 13th. Finally, Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $41.50.

NYSE CTB traded down $0.30 on Tuesday, reaching $26.95. The company had a trading volume of 600 shares, compared to its average volume of 1,012,151. The stock has a market cap of $1.37 billion, a PE ratio of 8.71, a P/E/G ratio of 3.60 and a beta of 0.46. Cooper Tire & Rubber Co has a 1 year low of $22.58 and a 1 year high of $40.78. The company has a quick ratio of 1.50, a current ratio of 2.59 and a debt-to-equity ratio of 0.25.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, April 30th. The company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.41). The company had revenue of $601.50 million during the quarter, compared to analysts’ expectations of $641.21 million. Cooper Tire & Rubber had a return on equity of 11.73% and a net margin of 2.60%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. sell-side analysts anticipate that Cooper Tire & Rubber Co will post 1.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, May 31st. Cooper Tire & Rubber’s dividend payout ratio (DPR) is currently 13.55%.

About Cooper Tire & Rubber

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets 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, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

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

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