North Point Portfolio Managers Corp OH maintained its stake in shares of Cooper Tire & Rubber Company (NYSE:CTB) during the second quarter, according to its most recent filing with the SEC. The firm owned 5,900 shares of the company’s stock at the end of the second quarter. North Point Portfolio Managers Corp OH’s holdings in Cooper Tire & Rubber were worth $213,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. FNY Partners Fund LP acquired a new stake in shares of Cooper Tire & Rubber during the first quarter valued at approximately $110,000. Flinton Capital Management LLC acquired a new stake in shares of Cooper Tire & Rubber during the first quarter valued at approximately $112,000. Creative Planning boosted its stake in shares of Cooper Tire & Rubber by 5.3% in the first quarter. Creative Planning now owns 2,585 shares of the company’s stock valued at $115,000 after buying an additional 129 shares during the period. Neuburgh Advisers LLC purchased a new stake in Cooper Tire & Rubber during the first quarter worth about $136,000. Finally, Envestnet Asset Management Inc. boosted 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. 94.58% of the stock is owned by institutional investors and hedge funds.
Cooper Tire & Rubber Company (NYSE:CTB) opened at 33.45 on Friday. Cooper Tire & Rubber Company has a 12-month low of $33.05 and a 12-month high of $44.50. The firm’s 50-day moving average price is $36.16 and its 200 day moving average price is $38.55. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 9.25 and a beta of -0.02.
Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.85 EPS 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 company had revenue of $720.75 million during the quarter, compared to the consensus estimate of $775 million. During the same period in the prior year, the business posted $1.27 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities research analysts expect that Cooper Tire & Rubber Company will post $3.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.105 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.42 annualized dividend and a yield of 1.26%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is currently 11.67%.
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A number of research firms recently issued reports on CTB. Jefferies Group LLC set a $40.00 price objective on Cooper Tire & Rubber and gave the company a “hold” rating in a research report on Monday, August 7th. Deutsche Bank AG lifted their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, August 7th. BidaskClub cut Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, April 25th. Finally, Standpoint Research raised Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $42.00.
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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