Massey Quick Simon & CO. LLC reduced its position in Cooper-Standard Holdings Inc (NYSE:CPS) by 25.0% in the first quarter, HoldingsChannel.com reports. The fund owned 1,354 shares of the auto parts company’s stock after selling 451 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in Cooper-Standard were worth $64,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CPS. Ramsey Quantitative Systems bought a new position in Cooper-Standard in the 4th quarter worth about $154,000. Commonwealth Bank of Australia grew its stake in Cooper-Standard by 28.6% in the fourth quarter. Commonwealth Bank of Australia now owns 2,700 shares of the auto parts company’s stock valued at $167,000 after purchasing an additional 600 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Cooper-Standard by 44.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 4,304 shares of the auto parts company’s stock valued at $267,000 after purchasing an additional 1,328 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Cooper-Standard by 48.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,299 shares of the auto parts company’s stock valued at $329,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in Cooper-Standard by 356.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,809 shares of the auto parts company’s stock valued at $361,000 after purchasing an additional 4,537 shares during the last quarter. Institutional investors own 97.69% of the company’s stock.
Cooper-Standard stock opened at $57.40 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.53 and a quick ratio of 1.32. Cooper-Standard Holdings Inc has a 52 week low of $46.59 and a 52 week high of $146.77. The stock has a market cap of $970.36 million, a P/E ratio of 6.31 and a beta of 1.32.
Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, February 14th. The auto parts company reported $1.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.93 by ($0.40). Cooper-Standard had a return on equity of 17.95% and a net margin of 2.97%. The firm had revenue of $871.99 million for the quarter, compared to analyst estimates of $894.65 million. On average, equities analysts anticipate that Cooper-Standard Holdings Inc will post 5.37 EPS for the current fiscal year.
In other news, CFO Jonathan P. Banas bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average price of $59.99 per share, with a total value of $59,990.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,583 shares of the company’s stock, valued at approximately $94,964.17. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.00% of the company’s stock.
CPS has been the topic of several analyst reports. ValuEngine lowered Cooper-Standard from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Zacks Investment Research raised Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Monday, January 7th. Seaport Global Securities began coverage on Cooper-Standard in a report on Wednesday, February 13th. They issued a “neutral” rating for the company. Buckingham Research raised Cooper-Standard from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a report on Monday, January 14th. Finally, Bank of America reissued an “underperform” rating and issued a $40.00 price target (down previously from $63.00) on shares of Cooper-Standard in a report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Cooper-Standard has an average rating of “Hold” and a consensus price target of $85.50.
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Cooper-Standard Company Profile
Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, designs, manufactures, and sells sealing, fuel and brake delivery, fluid transfer, and anti-vibration systems worldwide. It operates in four segments: North America, Europe, Asia Pacific, and South America. The company's sealing systems include dynamic and static seals, encapsulated glasses, stainless steel trims, flush glass systems, variable extrusions, and specialty sealing products.
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