Wilen Investment Management CORP. trimmed its stake in Cooper Tire & Rubber Co (NYSE:CTB) by 1.5% in the 1st quarter, Holdings Channel reports. The firm owned 53,988 shares of the company’s stock after selling 800 shares during the period. Cooper Tire & Rubber comprises approximately 1.2% of Wilen Investment Management CORP.’s holdings, making the stock its 23rd largest position. Wilen Investment Management CORP.’s holdings in Cooper Tire & Rubber were worth $1,598,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of Cooper Tire & Rubber during the 4th quarter worth approximately $23,031,000. Norges Bank purchased a new position in Cooper Tire & Rubber during the 4th quarter worth $15,800,000. Intrinsic Edge Capital Management LLC purchased a new position in Cooper Tire & Rubber during the 4th quarter worth $11,062,000. Bank of America Corp DE increased its holdings in Cooper Tire & Rubber by 933.9% during the 4th quarter. Bank of America Corp DE now owns 302,245 shares of the company’s stock worth $9,771,000 after purchasing an additional 338,489 shares during the period. Finally, BlackRock Inc. increased its holdings in Cooper Tire & Rubber by 4.1% during the 4th quarter. BlackRock Inc. now owns 7,480,493 shares of the company’s stock worth $241,845,000 after purchasing an additional 295,428 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on CTB. Zacks Investment Research downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating and set a $25.00 price objective on the stock. in a report on Tuesday, May 28th. KeyCorp began coverage on Cooper Tire & Rubber in a report on Wednesday, May 22nd. They set an “overweight” rating and a $36.00 price objective on the stock. Finally, TheStreet downgraded Cooper Tire & Rubber from a “b-” rating to a “c+” rating in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Cooper Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $33.00.
CTB traded down $0.01 during trading on Friday, hitting $30.59. 5,913 shares of the stock were exchanged, compared to its average volume of 293,872. The company has a market capitalization of $1.53 billion, a P/E ratio of 14.04 and a beta of 0.60. Cooper Tire & Rubber Co has a 1 year low of $23.27 and a 1 year high of $35.36. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.10.
Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings data on Monday, April 29th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $619.20 million for the quarter, compared to analysts’ expectations of $608.14 million. Cooper Tire & Rubber had a return on equity of 9.25% and a net margin of 2.66%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities analysts anticipate that Cooper Tire & Rubber Co will post 2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.42 annualized dividend and a yield of 1.37%. Cooper Tire & Rubber’s payout ratio is currently 19.27%.
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About Cooper Tire & Rubber
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.
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