Credit Suisse AG lowered its position in Cooper Tire & Rubber Company (NYSE:CTB) by 40.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,252 shares of the company’s stock after selling 30,450 shares during the period. Credit Suisse AG’s holdings in Cooper Tire & Rubber were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTB. Cambria Investment Management L.P. boosted its stake in Cooper Tire & Rubber by 1.2% in the first quarter. Cambria Investment Management L.P. now owns 35,430 shares of the company’s stock worth $1,571,000 after buying an additional 433 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Cooper Tire & Rubber by 119.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 86,225 shares of the company’s stock worth $3,824,000 after buying an additional 46,864 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Cooper Tire & Rubber during the first quarter worth approximately $204,000. State Street Corp boosted its position in shares of Cooper Tire & Rubber by 57.0% in the first quarter. State Street Corp now owns 1,758,619 shares of the company’s stock worth $77,994,000 after buying an additional 638,424 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Cooper Tire & Rubber by 66.4% in the first quarter. Bank of America Corp DE now owns 293,631 shares of the company’s stock worth $13,022,000 after buying an additional 117,136 shares during the last quarter. 94.58% of the stock is currently owned by institutional investors.

Shares of Cooper Tire & Rubber Company (NYSE CTB) traded down 1.77% during trading on Thursday, hitting $33.35. 103,386 shares of the stock were exchanged. The firm has a 50 day moving average of $36.55 and a 200-day moving average of $38.67. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 9.23 and a beta of -0.02. Cooper Tire & Rubber Company has a 12-month low of $33.11 and a 12-month high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last issued its earnings results on Friday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. Cooper Tire & Rubber had a return on equity of 17.67% and a net margin of 6.71%. The firm had revenue of $720.75 million for the quarter, compared to analyst estimates of $775 million. During the same period last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts forecast that Cooper Tire & Rubber Company will post $3.40 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 30th. Cooper Tire & Rubber’s dividend payout ratio is presently 11.67%.

ILLEGAL ACTIVITY NOTICE: “Cooper Tire & Rubber Company (CTB) Shares Sold by Credit Suisse AG” was published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark & copyright law. The correct version of this story can be read at https://www.dailypolitical.com/2017/08/10/cooper-tire-rubber-company-ctb-shares-sold-by-credit-suisse-ag.html.

A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, August 1st. Deutsche Bank AG lifted their target price on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Cooper Tire & Rubber in a report on Thursday, July 6th. Finally, Northcoast Research cut shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Cooper Tire & Rubber presently has a consensus rating of “Hold” and an average price target of $42.00.

Cooper Tire & Rubber Company Profile

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.

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 Company (NYSE:CTB).

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

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