California State Teachers Retirement System cut its stake in shares of Cooper Tire & Rubber Co (NYSE:CTB) by 6.4% during the third quarter, HoldingsChannel.com reports. The fund owned 88,057 shares of the company’s stock after selling 6,049 shares during the quarter. California State Teachers Retirement System’s holdings in Cooper Tire & Rubber were worth $3,293,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Cooper Tire & Rubber by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,725 shares of the company’s stock valued at $279,000 after buying an additional 31 shares during the period. Advisory Services Network LLC increased its holdings in Cooper Tire & Rubber by 6.8% during the second quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock valued at $172,000 after buying an additional 304 shares during the period. Comerica Bank increased its holdings in Cooper Tire & Rubber by 1.9% during the second quarter. Comerica Bank now owns 41,616 shares of the company’s stock valued at $1,596,000 after buying an additional 778 shares during the period. Thrivent Financial For Lutherans increased its holdings in Cooper Tire & Rubber by 8.5% during the second quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the company’s stock valued at $388,000 after buying an additional 840 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Cooper Tire & Rubber by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 13,388 shares of the company’s stock valued at $484,000 after buying an additional 905 shares during the period.

Cooper Tire & Rubber Co (NYSE CTB) opened at $38.75 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.67 and a debt-to-equity ratio of 0.24. Cooper Tire & Rubber Co has a 1-year low of $31.55 and a 1-year high of $44.50. The stock has a market cap of $1,990.00, a price-to-earnings ratio of 9.99 and a beta of 0.07.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a net margin of 7.18% and a return on equity of 17.56%. The business had revenue of $733.80 million for the quarter, compared to analyst estimates of $779.02 million. During the same period in the previous year, the company earned $1.04 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. sell-side analysts anticipate that Cooper Tire & Rubber Co will post 3.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 30th. Cooper Tire & Rubber’s dividend payout ratio is currently 10.82%.

CTB has been the topic of several research reports. KeyCorp reissued a “buy” rating and set a $42.00 price objective on shares of Cooper Tire & Rubber in a report on Wednesday, November 1st. B. Riley reissued a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Monday, December 11th. FBR & Co reissued a “buy” rating and set a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. ValuEngine raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Finally, Jefferies Group reissued a “hold” rating and set a $35.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $44.86.

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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.

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

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