State Board of Administration of Florida Retirement System reduced its stake in Cooper Tire & Rubber Co. (NYSE:CTB) by 14.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 40,655 shares of the company’s stock after selling 7,135 shares during the period. State Board of Administration of Florida Retirement System owned 0.07% of Cooper Tire & Rubber Co. worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $134,000 after buying an additional 2,905 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 valued at $137,000 after buying an additional 1,988 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 valued at $180,000 after buying an additional 1,252 shares during the period. 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 valued at $196,000 after buying an additional 297 shares during the period. Finally, Advisory Services Network LLC increased its position in Cooper Tire & Rubber Co. by 4.3% in the second quarter. Advisory Services Network LLC now owns 6,987 shares of the company’s stock valued at $208,000 after buying an additional 289 shares during the period. 91.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cooper Tire & Rubber Co. (NYSE:CTB) traded up 0.40% during mid-day trading on Tuesday, reaching $35.22. The company had a trading volume of 370,317 shares. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.21 and a beta of 0.61. Cooper Tire & Rubber Co. has a 52 week low of $29.29 and a 52 week high of $43.40. The stock has a 50 day moving average of $34.06 and a 200-day moving average of $33.62.

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

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

Several research analysts have recently commented on the company. Standpoint Research assumed coverage on Cooper Tire & Rubber Co. in a research note on Friday, May 27th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research raised Cooper Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, August 10th. Deutsche Bank AG decreased their price objective on 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. JPMorgan Chase & Co. decreased their price objective on 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. Finally, Off Wall Street reaffirmed a “sell” rating on shares of Cooper Tire & Rubber Co. in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target 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

Want to see what other hedge funds are holding CTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cooper Tire & Rubber Co. (NYSE:CTB).

Receive News & Ratings for Cooper Tire & Rubber Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.