Prudential Financial Inc. Increases Stake in Cooper-Standard Holdings Inc. (CPS)
Prudential Financial Inc. raised its position in Cooper-Standard Holdings Inc. (NYSE:CPS) by 266.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 176,814 shares of the company’s stock after buying an additional 128,600 shares during the period. Prudential Financial Inc. owned approximately 1.02% of Cooper-Standard Holdings worth $13,967,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Cooper-Standard Holdings by 8.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the company’s stock valued at $158,000 after buying an additional 156 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Cooper-Standard Holdings during the first quarter valued at $146,000. Suntrust Banks Inc. acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at $226,000. Kalos Management Inc. acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at $301,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at $346,000. 96.91% of the stock is owned by institutional investors and hedge funds.
Shares of Cooper-Standard Holdings Inc. (NYSE:CPS) opened at 98.80 on Friday. The firm has a market cap of $1.71 billion, a P/E ratio of 14.58 and a beta of 0.62. Cooper-Standard Holdings Inc. has a one year low of $59.08 and a one year high of $107.94. The firm’s 50-day moving average price is $100.26 and its 200 day moving average price is $86.09.
Cooper-Standard Holdings (NYSE:CPS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.61. Cooper-Standard Holdings had a return on equity of 31.20% and a net margin of 3.68%. The firm had revenue of $879.30 million for the quarter, compared to analyst estimates of $875.98 million. Cooper-Standard Holdings’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Cooper-Standard Holdings Inc. will post $10.18 EPS for the current year.
Several equities analysts have recently weighed in on the stock. Jefferies Group decreased their price target on shares of Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Roth Capital set a $115.00 price target on shares of Cooper-Standard Holdings and gave the stock a “buy” rating in a research note on Sunday, September 18th. Zacks Investment Research cut shares of Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Seaport Global Securities assumed coverage on Cooper-Standard Holdings in a report on Tuesday, August 9th. They issued a “buy” rating and a $108.00 price objective for the company. Finally, Buckingham Research downgraded Cooper-Standard Holdings from a “buy” rating to a “neutral” rating and increased their price objective for the company from $101.00 to $105.00 in a report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $101.86.
In other news, insider Hill Advisors Genpar L.P. Oak sold 715,473 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $87.01, for a total transaction of $62,253,305.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Silver Point Capital L.P. sold 570,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $89.30, for a total value of $50,901,000.00. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
About Cooper-Standard Holdings
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
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