Capital Investment Counsel Inc Reduces Stake in Cooper Tire & Rubber Co (CTB)

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Capital Investment Counsel Inc lessened its holdings in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the company’s stock after selling 1,800 shares during the period. Capital Investment Counsel Inc’s holdings in Cooper Tire & Rubber were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CTB. BlackRock Inc. boosted its holdings in shares of Cooper Tire & Rubber by 25.6% during the 2nd quarter. BlackRock Inc. now owns 7,045,283 shares of the company’s stock valued at $185,291,000 after buying an additional 1,434,369 shares in the last quarter. FMR LLC boosted its holdings in shares of Cooper Tire & Rubber by 76.4% during the 2nd quarter. FMR LLC now owns 3,081,168 shares of the company’s stock valued at $81,035,000 after buying an additional 1,334,340 shares in the last quarter. Investment Counselors of Maryland LLC bought a new stake in shares of Cooper Tire & Rubber during the 2nd quarter valued at $21,455,000. Deprince Race & Zollo Inc. boosted its holdings in shares of Cooper Tire & Rubber by 25.9% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,010,214 shares of the company’s stock valued at $85,189,000 after buying an additional 618,639 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Cooper Tire & Rubber by 107.6% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,155,931 shares of the company’s stock valued at $32,713,000 after buying an additional 599,162 shares in the last quarter.

CTB opened at $30.89 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.55 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.59 billion, a PE ratio of 15.65, a P/E/G ratio of 5.66 and a beta of 0.66. Cooper Tire & Rubber Co has a 1 year low of $22.58 and a 1 year high of $40.78.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Monday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.62. The firm had revenue of $737.70 million during the quarter, compared to analyst estimates of $748.54 million. Cooper Tire & Rubber had a return on equity of 8.58% and a net margin of 1.25%. Cooper Tire & Rubber’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. Sell-side analysts forecast that Cooper Tire & Rubber Co will post 1.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, November 30th. Cooper Tire & Rubber’s dividend payout ratio is presently 13.55%.

A number of brokerages have recently commented on CTB. Wolfe Research started coverage on shares of Cooper Tire & Rubber in a report on Tuesday, October 2nd. They set an “underperform” rating on the stock. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research report on Tuesday, August 21st. ValuEngine raised Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.40.

About Cooper Tire & Rubber

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.

Further Reading: Preferred Stock

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

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