142,959 Shares in Cooper-Standard Holdings Inc. $CPS Purchased by Empowered Funds LLC

Empowered Funds LLC purchased a new position in Cooper-Standard Holdings Inc. (NYSE:CPS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 142,959 shares of the auto parts company’s stock, valued at approximately $3,867,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Cooper-Standard by 343.0% during the 1st quarter. Royal Bank of Canada now owns 25,628 shares of the auto parts company’s stock valued at $393,000 after acquiring an additional 19,843 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Cooper-Standard by 1,345.8% in the first quarter. AQR Capital Management LLC now owns 151,530 shares of the auto parts company’s stock worth $2,321,000 after acquiring an additional 141,049 shares during the last quarter. Millennium Management LLC grew its holdings in Cooper-Standard by 89.9% in the first quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after purchasing an additional 147,209 shares during the period. Goldman Sachs Group Inc. grew its holdings in Cooper-Standard by 21.9% in the first quarter. Goldman Sachs Group Inc. now owns 214,523 shares of the auto parts company’s stock valued at $3,286,000 after purchasing an additional 38,489 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Cooper-Standard during the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Cooper-Standard Stock Down 5.9%

Shares of CPS stock opened at $25.19 on Wednesday. The stock has a market cap of $447.60 million, a price-to-earnings ratio of -8.02 and a beta of 2.00. Cooper-Standard Holdings Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $47.98. The firm’s 50 day moving average price is $27.97 and its two-hundred day moving average price is $30.12.

Cooper-Standard (NYSE:CPS) last released its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.67). The business had revenue of $721.35 million for the quarter, compared to the consensus estimate of $708.90 million. On average, equities analysts forecast that Cooper-Standard Holdings Inc. will post 2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus cut their price target on shares of Cooper-Standard from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Zacks Research downgraded Cooper-Standard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered Cooper-Standard from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $48.33.

Cooper-Standard Company Profile

Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.

Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.