Waystone Advisors LLC Acquires New Position in Cooper-Standard Holdings Inc. $CPS

Waystone Advisors LLC acquired a new stake in Cooper-Standard Holdings Inc. (NYSE:CPS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,130 shares of the auto parts company’s stock, valued at approximately $1,482,000. Cooper-Standard accounts for 1.3% of Waystone Advisors LLC’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Cooper-Standard by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 976,604 shares of the auto parts company’s stock valued at $36,066,000 after acquiring an additional 29,800 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in Cooper-Standard by 0.5% during the 4th quarter. Fiduciary Alliance LLC now owns 501,373 shares of the auto parts company’s stock valued at $16,460,000 after acquiring an additional 2,659 shares in the last quarter. Great Hill Capital LLC purchased a new position in Cooper-Standard during the 3rd quarter valued at about $16,036,000. Millennium Management LLC increased its holdings in Cooper-Standard by 89.9% during the 1st quarter. Millennium Management LLC now owns 311,015 shares of the auto parts company’s stock valued at $4,765,000 after acquiring an additional 147,209 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Cooper-Standard by 336.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 274,642 shares of the auto parts company’s stock valued at $10,143,000 after acquiring an additional 211,768 shares in the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Cooper-Standard Stock Performance

CPS opened at $30.45 on Thursday. The company’s 50 day simple moving average is $29.48 and its 200 day simple moving average is $31.91. Cooper-Standard Holdings Inc. has a 1 year low of $19.32 and a 1 year high of $47.98. The stock has a market capitalization of $540.40 million, a PE ratio of -13.97 and a beta of 2.00.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The company had revenue of $686.36 million for the quarter, compared to analyst estimates of $660.00 million. As a group, sell-side analysts expect that Cooper-Standard Holdings Inc. will post 3.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David John Mastrocola bought 3,391 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $29.77 per share, with a total value of $100,950.07. Following the completion of the transaction, the director owned 25,000 shares of the company’s stock, valued at approximately $744,250. The trade was a 15.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 6,885 shares of company stock valued at $208,144 over the last 90 days. 9.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on CPS. Wall Street Zen downgraded shares of Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Tuesday. Citigroup raised their target price on shares of Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Stifel Nicolaus lowered their price target on shares of Cooper-Standard to $55.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cooper-Standard in a report on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.33.

Cooper-Standard 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.