Private Advisor Group LLC bought a new stake in shares of Cooper Tire & Rubber Company (NYSE:CTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,432 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Cooper Tire & Rubber by 36,940.2% during the 1st quarter. BlackRock Inc. now owns 5,771,600 shares of the company’s stock valued at $255,971,000 after buying an additional 5,756,018 shares during the period. Dimensional Fund Advisors LP boosted its position in Cooper Tire & Rubber by 18.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,079,701 shares of the company’s stock valued at $136,583,000 after buying an additional 481,349 shares during the period. Royce & Associates LP boosted its position in Cooper Tire & Rubber by 14.3% during the 2nd quarter. Royce & Associates LP now owns 2,955,339 shares of the company’s stock valued at $106,688,000 after buying an additional 369,045 shares during the period. Fairpointe Capital LLC boosted its position in Cooper Tire & Rubber by 26.3% during the 1st quarter. Fairpointe Capital LLC now owns 2,940,825 shares of the company’s stock valued at $130,426,000 after buying an additional 613,045 shares during the period. Finally, State Street Corp boosted its position in Cooper Tire & Rubber by 57.0% during the 1st quarter. State Street Corp now owns 1,758,619 shares of the company’s stock valued at $77,994,000 after buying an additional 638,424 shares during the period. 94.58% of the stock is currently owned by institutional investors.

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Shares of Cooper Tire & Rubber Company (NYSE:CTB) opened at 35.10 on Thursday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.71 and a beta of -0.03. Cooper Tire & Rubber Company has a 1-year low of $32.78 and a 1-year high of $44.50. The firm’s 50-day moving average is $34.23 and its 200-day moving average is $37.86.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Friday, August 4th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $720.75 million during the quarter, compared to analyst estimates of $775.00 million. Cooper Tire & Rubber had a net margin of 6.71% and a return on equity of 17.67%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. Analysts forecast that Cooper Tire & Rubber Company will post $3.40 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, August 30th. Cooper Tire & Rubber’s payout ratio is 11.67%.

Several brokerages have weighed in on CTB. Jefferies Group LLC set a $40.00 price target on shares of Cooper Tire & Rubber and gave the company a “hold” rating in a research report on Monday, August 7th. BidaskClub cut shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Deutsche Bank AG increased their price target on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research cut shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Standpoint Research raised shares of Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.00.

Cooper Tire & Rubber 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.

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

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