First Trust Advisors LP Has $2.16 Million Stake in Cooper Tire & Rubber Co (CTB)

First Trust Advisors LP increased its stake in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 8.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 61,209 shares of the company’s stock after acquiring an additional 4,766 shares during the period. First Trust Advisors LP owned 0.12% of Cooper Tire & Rubber worth $2,164,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CTB. Crossmark Global Holdings Inc. boosted its stake in Cooper Tire & Rubber by 20.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,628 shares of the company’s stock valued at $340,000 after purchasing an additional 1,629 shares during the period. Sei Investments Co. boosted its stake in Cooper Tire & Rubber by 2.3% during the 3rd quarter. Sei Investments Co. now owns 72,612 shares of the company’s stock valued at $2,715,000 after purchasing an additional 1,660 shares during the period. New York State Common Retirement Fund boosted its stake in Cooper Tire & Rubber by 3.2% during the 3rd quarter. New York State Common Retirement Fund now owns 58,600 shares of the company’s stock valued at $2,192,000 after purchasing an additional 1,800 shares during the period. Cipher Capital LP boosted its stake in Cooper Tire & Rubber by 4.1% during the 3rd quarter. Cipher Capital LP now owns 47,510 shares of the company’s stock valued at $1,776,000 after purchasing an additional 1,863 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Cooper Tire & Rubber by 1.1% during the 3rd quarter. California Public Employees Retirement System now owns 192,832 shares of the company’s stock valued at $7,212,000 after purchasing an additional 2,105 shares during the period.

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Shares of Cooper Tire & Rubber Co (NYSE CTB) opened at $29.90 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.25. Cooper Tire & Rubber Co has a 52-week low of $29.58 and a 52-week high of $44.50. The company has a market capitalization of $1,541.72, a P/E ratio of 9.79 and a beta of 0.38.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.12). Cooper Tire & Rubber had a return on equity of 13.71% and a net margin of 3.34%. The firm had revenue of $757.04 million during the quarter, compared to the consensus estimate of $750.97 million. During the same quarter in the prior year, the business posted $1.30 EPS. Cooper Tire & Rubber’s revenue was down 3.4% compared to the same quarter last year. sell-side analysts expect that Cooper Tire & Rubber Co will post 3.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 1st will be given a $0.105 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.40%. Cooper Tire & Rubber’s dividend payout ratio is currently 23.60%.

Several analysts recently weighed in on CTB shares. JPMorgan Chase & Co. decreased their target price on Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. TheStreet downgraded Cooper Tire & Rubber from a “b” rating to a “c” rating in a research note on Tuesday, February 20th. Zacks Investment Research upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, January 12th. Northcoast Research upgraded Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 10th. Finally, Longbow Research initiated coverage on Cooper Tire & Rubber in a research report on Wednesday, January 31st. They issued a “buy” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Cooper Tire & Rubber presently has a consensus rating of “Hold” and a consensus price target of $43.63.

In related news, Director Robert D. Welding bought 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was acquired at an average price of $32.30 per share, for a total transaction of $48,450.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $96,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.74% of the stock is owned by company insiders.

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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.

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

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