Tower Research Capital LLC TRC boosted its stake in shares of Cooper Tire & Rubber Co. (NYSE:CTB) by 596.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,742 shares of the company’s stock after buying an additional 8,344 shares during the period. Tower Research Capital LLC TRC’s holdings in Cooper Tire & Rubber Co. were worth $291,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its position in Cooper Tire & Rubber Co. by 34.6% in the second quarter. Acrospire Investment Management LLC now owns 3,500 shares of the company’s stock worth $104,000 after buying an additional 900 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Cooper Tire & Rubber Co. by 115.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,703 shares of the company’s stock worth $137,000 after buying an additional 1,988 shares during the period. BNP Paribas Arbitrage SA increased its position in Cooper Tire & Rubber Co. by 184.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,477 shares of the company’s stock worth $134,000 after buying an additional 2,905 shares during the period. BlackRock Inc. increased its position in Cooper Tire & Rubber Co. by 34.4% in the first quarter. BlackRock Inc. now owns 4,891 shares of the company’s stock worth $180,000 after buying an additional 1,252 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Cooper Tire & Rubber Co. by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,283 shares of the company’s stock worth $196,000 after buying an additional 297 shares during the period. 91.25% of the stock is currently owned by institutional investors.

Shares of Cooper Tire & Rubber Co. (NYSE:CTB) opened at 35.22 on Wednesday. Cooper Tire & Rubber Co. has a 12-month low of $29.29 and a 12-month high of $43.40. The firm’s 50-day moving average is $34.13 and its 200-day moving average is $33.58. The company has a market capitalization of $1.91 billion, a PE ratio of 8.21 and a beta of 0.61.

Cooper Tire & Rubber Co. (NYSE:CTB) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.20. The company had revenue of $740 million for the quarter, compared to analyst estimates of $751.81 million. Cooper Tire & Rubber Co. had a net margin of 8.22% and a return on equity of 23.50%. Cooper Tire & Rubber Co.’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. On average, equities research analysts anticipate that Cooper Tire & Rubber Co. will post $4.30 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.105 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.42 annualized dividend and a dividend yield of 1.19%. Cooper Tire & Rubber Co.’s dividend payout ratio is presently 9.79%.

CTB has been the topic of a number of research reports. Deutsche Bank AG dropped their price target on shares of Cooper Tire & Rubber Co. from $40.00 to $39.00 and set a “hold” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research raised shares of Cooper Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. dropped their price target on shares of Cooper Tire & Rubber Co. from $47.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. Off Wall Street reiterated a “sell” rating on shares of Cooper Tire & Rubber Co. in a report on Tuesday, June 28th. Finally, Northcoast Research upgraded shares of Cooper Tire & Rubber Co. from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.30.

About Cooper Tire & Rubber Co.

Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries sell medium truck, motorcycle and racing tires. It has four business segments: North America, composed of its operations in the United States and Canada; Latin America, composed of its operations in Mexico, Central America and South America; Europe, and Asia.

5 Day Chart for NYSE:CTB

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