Metropolitan Life Insurance Co. NY reduced its stake in Cooper Tire & Rubber Co (NYSE:CTB) by 44.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,736 shares of the company’s stock after selling 13,189 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Cooper Tire & Rubber were worth $440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Portolan Capital Management LLC acquired a new stake in Cooper Tire & Rubber in the second quarter valued at $8,667,000. Tocqueville Asset Management L.P. raised its stake in Cooper Tire & Rubber by 115.7% in the second quarter. Tocqueville Asset Management L.P. now owns 326,130 shares of the company’s stock valued at $8,577,000 after buying an additional 174,930 shares in the last quarter. Laurion Capital Management LP acquired a new stake in Cooper Tire & Rubber in the second quarter valued at $1,144,000. OppenheimerFunds Inc. raised its stake in Cooper Tire & Rubber by 134.8% in the second quarter. OppenheimerFunds Inc. now owns 65,185 shares of the company’s stock valued at $1,714,000 after buying an additional 37,427 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Cooper Tire & Rubber in the second quarter valued at $7,614,000.

Cooper Tire & Rubber stock opened at $28.80 on Friday. Cooper Tire & Rubber Co has a 1-year low of $22.58 and a 1-year high of $40.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.53 and a current ratio of 2.58. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 5.14 and a beta of 0.64.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. Cooper Tire & Rubber had a return on equity of 9.24% and a net margin of 1.53%. The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $679.75 million. During the same period last year, the firm earned $0.85 earnings per share. Cooper Tire & Rubber’s quarterly revenue was down 3.2% on a year-over-year basis. analysts anticipate that Cooper Tire & Rubber Co will post 1.4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, August 31st. Cooper Tire & Rubber’s dividend payout ratio (DPR) is currently 13.55%.

A number of analysts have weighed in on CTB shares. Northcoast Research restated a “buy” rating on shares of Cooper Tire & Rubber in a research note on Monday, June 25th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a research note on Monday, August 6th. Finally, ValuEngine upgraded Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $41.00.

Cooper Tire & Rubber Profile

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets 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, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

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Institutional Ownership by Quarter for Cooper Tire & Rubber (NYSE:CTB)

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