Hodges Capital Management Inc. Decreases Position in Cooper Tire & Rubber Company (CTB)
Hodges Capital Management Inc. decreased its position in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,721 shares of the company’s stock after selling 214,916 shares during the period. Cooper Tire & Rubber comprises 1.7% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 13th biggest position. Hodges Capital Management Inc. owned approximately 1.30% of Cooper Tire & Rubber worth $25,459,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cipher Capital LP increased its holdings in shares of Cooper Tire & Rubber by 679.0% in the 2nd quarter. Cipher Capital LP now owns 45,647 shares of the company’s stock valued at $1,648,000 after acquiring an additional 39,787 shares during the last quarter. Victory Capital Management Inc. grew its stake in Cooper Tire & Rubber by 39.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,047,537 shares of the company’s stock worth $37,817,000 after buying an additional 296,340 shares during the last quarter. Vanguard Group Inc. grew its stake in Cooper Tire & Rubber by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock worth $157,060,000 after buying an additional 20,738 shares during the last quarter. Federated Investors Inc. PA grew its stake in Cooper Tire & Rubber by 2.6% during the 2nd quarter. Federated Investors Inc. PA now owns 152,705 shares of the company’s stock worth $5,513,000 after buying an additional 3,871 shares during the last quarter. Finally, Icon Advisers Inc. Co. purchased a new position in Cooper Tire & Rubber during the 2nd quarter worth approximately $282,000.
Shares of Cooper Tire & Rubber Company (CTB) traded up $0.30 during trading hours on Tuesday, hitting $32.30. The stock had a trading volume of 894,866 shares, compared to its average volume of 726,441. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67. Cooper Tire & Rubber Company has a twelve month low of $31.55 and a twelve month high of $44.50. The stock has a market capitalization of $1,640.76, a P/E ratio of 8.25, a P/E/G ratio of 1.02 and a beta of -0.01.
Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.33. The company had revenue of $733.80 million for the quarter, compared to analysts’ expectations of $779.02 million. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.56%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. research analysts forecast that Cooper Tire & Rubber Company will post 3.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.42 annualized dividend and a yield of 1.30%. Cooper Tire & Rubber’s dividend payout ratio is currently 10.82%.
A number of analysts have weighed in on CTB shares. BidaskClub raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Monday, July 24th. Jefferies Group LLC set a $40.00 price target on Cooper Tire & Rubber and gave the company a “hold” rating in a report on Monday, August 7th. Deutsche Bank AG raised their price target on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, FBR & Co reissued a “buy” rating and issued a $53.00 price target on shares of Cooper Tire & Rubber in a report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.86.
About Cooper Tire & Rubber
Cooper Tire & Rubber Company is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck, motorcycle, and racing tires. The Company operates through four segments: North America, Latin America, Europe, and Asia.
Receive News & Ratings for Cooper Tire & Rubber Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber Company and related companies with Analyst Ratings Network's FREE daily email newsletter.