American International Group Inc. Reduces Position in Cooper-Standard Holdings Inc. (CPS)
American International Group Inc. decreased its position in Cooper-Standard Holdings Inc. (NYSE:CPS) by 23.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,994 shares of the auto parts company’s stock after selling 5,538 shares during the period. American International Group Inc.’s holdings in Cooper-Standard Holdings were worth $1,996,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its position in Cooper-Standard Holdings by 1.1% in the first quarter. Arizona State Retirement System now owns 9,200 shares of the auto parts company’s stock worth $1,021,000 after buying an additional 100 shares during the period. Schroder Investment Management Group raised its position in Cooper-Standard Holdings by 1,675.0% in the first quarter. Schroder Investment Management Group now owns 7,100 shares of the auto parts company’s stock worth $785,000 after buying an additional 6,700 shares during the period. SG Americas Securities LLC raised its position in Cooper-Standard Holdings by 12.2% in the first quarter. SG Americas Securities LLC now owns 4,212 shares of the auto parts company’s stock worth $467,000 after buying an additional 458 shares during the period. Stifel Financial Corp raised its position in Cooper-Standard Holdings by 23.2% in the first quarter. Stifel Financial Corp now owns 98,360 shares of the auto parts company’s stock worth $10,907,000 after buying an additional 18,531 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Cooper-Standard Holdings during the first quarter worth approximately $514,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.
Cooper-Standard Holdings Inc. (NYSE:CPS) opened at 99.3103 on Tuesday. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 12.4824 and a beta of 0.72. Cooper-Standard Holdings Inc. has a 52 week low of $74.33 and a 52 week high of $118.59. The stock has a 50 day moving average price of $109.37 and a 200 day moving average price of $107.81.
Cooper-Standard Holdings (NYSE:CPS) last issued its quarterly earnings data on Thursday, May 4th. The auto parts company reported $2.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.43. Cooper-Standard Holdings had a return on equity of 28.80% and a net margin of 4.27%. The company had revenue of $902.05 million for the quarter, compared to the consensus estimate of $866.38 million. On average, equities analysts forecast that Cooper-Standard Holdings Inc. will post $10.91 earnings per share for the current year.
A number of research firms have commented on CPS. Bank of America Corporation restated an “underperform” rating and set a $85.00 price objective (down previously from $94.00) on shares of Cooper-Standard Holdings in a research note on Friday. ValuEngine upgraded Cooper-Standard Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded Cooper-Standard Holdings from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Finally, Jefferies Group LLC restated a “hold” rating and set a $117.00 price objective on shares of Cooper-Standard Holdings in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $109.43.
In related news, insider Sharon Wenzl sold 293 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $108.17, for a total value of $31,693.81. Following the sale, the insider now owns 1,583 shares in the company, valued at $171,233.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Song Min Lee sold 911 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $110.70, for a total value of $100,847.70. Following the completion of the sale, the senior vice president now owns 15,000 shares in the company, valued at approximately $1,660,500. The disclosure for this sale can be found here. Insiders sold 293,033 shares of company stock worth $32,435,282 in the last quarter. 3.90% of the stock is currently owned by company insiders.
About Cooper-Standard Holdings
Cooper-Standard Holdings Inc is a holding company. The Company designs, manufactures and sells sealing, fuel and brake delivery, fluid transfer and anti-vibration systems for use in passenger vehicles and light trucks manufactured by global original equipment manufacturers (OEMs). The Company operates through four segments: North America, Europe, Asia Pacific and South America.
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