Renaissance Technologies LLC bought a new position in shares of Cooper Tire & Rubber Co (NYSE:CTB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 289,500 shares of the company’s stock, valued at approximately $7,614,000. Renaissance Technologies LLC owned 0.58% of Cooper Tire & Rubber at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CTB. BlackRock Inc. boosted its position in Cooper Tire & Rubber by 25.6% during the 2nd quarter. BlackRock Inc. now owns 7,045,283 shares of the company’s stock worth $185,291,000 after buying an additional 1,434,369 shares during the period. FMR LLC boosted its position in Cooper Tire & Rubber by 76.4% during the 2nd quarter. FMR LLC now owns 3,081,168 shares of the company’s stock worth $81,035,000 after buying an additional 1,334,340 shares during the period. Investment Counselors of Maryland LLC acquired a new stake in Cooper Tire & Rubber during the 2nd quarter worth approximately $21,455,000. Deprince Race & Zollo Inc. lifted its position in shares of Cooper Tire & Rubber by 31.5% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,391,575 shares of the company’s stock worth $62,898,000 after purchasing an additional 573,398 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Cooper Tire & Rubber in the 2nd quarter worth approximately $14,643,000.
Shares of NYSE CTB opened at $26.62 on Tuesday. The company has a market capitalization of $1.42 billion, a PE ratio of 8.59, a PEG ratio of 5.04 and a beta of 0.66. Cooper Tire & Rubber Co has a 52-week low of $22.58 and a 52-week 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.
Cooper Tire & Rubber (NYSE:CTB) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Cooper Tire & Rubber had a net margin of 1.53% and a return on equity of 9.24%. The firm had revenue of $698.00 million for the quarter, compared to the consensus estimate of $679.75 million. During the same quarter in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Cooper Tire & Rubber Co will post 1.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.58%. Cooper Tire & Rubber’s payout ratio is presently 13.55%.
CTB has been the topic of a number of recent analyst reports. Northcoast Research restated a “buy” rating on shares of Cooper Tire & Rubber in a research report on Monday, June 25th. Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a research report on Monday, August 6th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. ValuEngine upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, Wolfe Research initiated coverage on shares of Cooper Tire & Rubber in a research report on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Cooper Tire & Rubber has an average rating of “Hold” and an average price target 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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