IndexIQ Advisors LLC Purchases 8,861 Shares of Cooper Tire & Rubber Company (CTB)

IndexIQ Advisors LLC increased its position in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 82.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,545 shares of the company’s stock after buying an additional 8,861 shares during the quarter. IndexIQ Advisors LLC’s holdings in Cooper Tire & Rubber were worth $731,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new stake in Cooper Tire & Rubber during the second quarter valued at approximately $25,270,000. State Street Corp boosted its holdings in Cooper Tire & Rubber by 57.0% during the first quarter. State Street Corp now owns 1,758,619 shares of the company’s stock valued at $77,994,000 after purchasing an additional 638,424 shares in the last quarter. Fairpointe Capital LLC boosted its holdings in Cooper Tire & Rubber by 14.8% during the second quarter. Fairpointe Capital LLC now owns 3,377,104 shares of the company’s stock valued at $121,914,000 after purchasing an additional 436,279 shares in the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new stake in Cooper Tire & Rubber during the second quarter valued at approximately $13,749,000. Finally, Royce & Associates LP boosted its holdings in Cooper Tire & Rubber by 14.3% during the second quarter. Royce & Associates LP now owns 2,955,339 shares of the company’s stock valued at $106,688,000 after purchasing an additional 369,045 shares in the last quarter.

Cooper Tire & Rubber Company (NYSE CTB) opened at $34.35 on Tuesday. The company has a market capitalization of $1,722.80, a P/E ratio of 8.66, a PEG ratio of 1.07 and a beta of -0.01. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.24. Cooper Tire & Rubber Company has a 1-year low of $31.55 and a 1-year high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Monday, October 30th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.85 by $0.33. The business had revenue of $733.80 million for the quarter, compared to the consensus estimate of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. Cooper Tire & Rubber’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. research analysts anticipate that Cooper Tire & Rubber Company will post 3.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $0.105 dividend. This represents a $0.42 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, November 30th. Cooper Tire & Rubber’s payout ratio is currently 10.82%.

A number of equities research analysts have weighed in on the company. KeyCorp reaffirmed a “buy” rating and set a $42.00 price objective on shares of Cooper Tire & Rubber in a report on Wednesday, November 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. FBR & Co reaffirmed a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. Zacks Investment Research downgraded Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Deutsche Bank AG lifted their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $44.00.

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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.

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

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