Acrospire Investment Management LLC increased its stake in Cooper Tire & Rubber Co. (NYSE:CTB) by 34.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,500 shares of the company’s stock after buying an additional 900 shares during the period. Acrospire Investment Management LLC’s holdings in Cooper Tire & Rubber Co. were worth $104,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in Cooper Tire & Rubber Co. by 184.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,477 shares of the company’s stock valued at $134,000 after buying an additional 2,905 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Cooper Tire & Rubber Co. by 115.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,703 shares of the company’s stock valued at $137,000 after buying an additional 1,988 shares in the last quarter. BlackRock Inc. increased its stake in Cooper Tire & Rubber Co. by 34.4% in the first quarter. BlackRock Inc. now owns 4,891 shares of the company’s stock valued at $180,000 after buying an additional 1,252 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Cooper Tire & Rubber Co. by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 5,283 shares of the company’s stock valued at $196,000 after buying an additional 297 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Cooper Tire & Rubber Co. by 4.3% in the second quarter. Advisory Services Network LLC now owns 6,987 shares of the company’s stock valued at $208,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Cooper Tire & Rubber Co. (NYSE:CTB) traded up 0.68% on Wednesday, reaching $35.46. The company had a trading volume of 186,961 shares. The stock has a market capitalization of $1.92 billion, a PE ratio of 8.27 and a beta of 0.61. The stock’s 50 day moving average price is $34.13 and its 200-day moving average price is $33.58. Cooper Tire & Rubber Co. has a 12-month low of $29.29 and a 12-month high of $43.40.

Cooper Tire & Rubber Co. (NYSE:CTB) last posted its earnings results on Thursday, August 4th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.20. Cooper Tire & Rubber Co. had a net margin of 8.22% and a return on equity of 23.50%. The firm had revenue of $740 million for the quarter, compared to the consensus estimate of $751.81 million. During the same period in the previous year, the firm posted $1.03 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts expect that Cooper Tire & Rubber Co. will post $4.30 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.19%. Cooper Tire & Rubber Co.’s dividend payout ratio (DPR) is presently 9.79%.

Several equities research analysts have issued reports on CTB shares. Northcoast Research upgraded Cooper Tire & Rubber Co. from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of Cooper Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, August 10th. Standpoint Research assumed coverage on shares of Cooper Tire & Rubber Co. in a report on Friday, May 27th. They issued a “buy” rating and a $40.00 price target on the stock. Deutsche Bank AG decreased their price target on shares of Cooper Tire & Rubber Co. from $40.00 to $39.00 and set a “hold” rating on the stock in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cooper Tire & Rubber Co. from $47.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.30.

Cooper Tire & Rubber Co. Company Profile

Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design, manufacture, marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries sell medium truck, motorcycle and racing tires. It has four business segments: North America, composed of its operations in the United States and Canada; Latin America, composed of its operations in Mexico, Central America and South America; Europe, and Asia.

5 Day Chart for NYSE:CTB

Want to see what other hedge funds are holding CTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cooper Tire & Rubber Co. (NYSE:CTB).

Receive News & Ratings for Cooper Tire & Rubber Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cooper Tire & Rubber Co. and related companies with MarketBeat.com's FREE daily email newsletter.