Foundry Partners LLC Reduces Holdings in Cooper Tire & Rubber Co (CTB)

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Foundry Partners LLC lessened its holdings in Cooper Tire & Rubber Co (NYSE:CTB) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 289,166 shares of the company’s stock after selling 67,510 shares during the period. Foundry Partners LLC owned approximately 0.58% of Cooper Tire & Rubber worth $8,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers lifted its stake in Cooper Tire & Rubber by 24.8% in the second quarter. Rhumbline Advisers now owns 136,979 shares of the company’s stock worth $3,603,000 after acquiring an additional 27,185 shares during the period. HGK Asset Management Inc. lifted its position in shares of Cooper Tire & Rubber by 19.4% during the second quarter. HGK Asset Management Inc. now owns 15,843 shares of the company’s stock valued at $417,000 after buying an additional 2,576 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Cooper Tire & Rubber by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 817,192 shares of the company’s stock valued at $21,492,000 after buying an additional 12,676 shares during the last quarter. Fairpointe Capital LLC lifted its position in shares of Cooper Tire & Rubber by 5.7% during the second quarter. Fairpointe Capital LLC now owns 4,424,985 shares of the company’s stock valued at $116,377,000 after buying an additional 239,226 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Cooper Tire & Rubber during the second quarter valued at about $14,643,000.

Shares of NYSE:CTB traded up $0.19 during midday trading on Friday, reaching $32.79. 716,257 shares of the company’s stock traded hands, compared to its average volume of 1,113,440. Cooper Tire & Rubber Co has a 1 year low of $22.58 and a 1 year high of $40.78. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 4.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.55 and a quick ratio of 1.59.

Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Monday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.62. The firm had revenue of $737.70 million for the quarter, compared to analyst estimates of $748.54 million. Cooper Tire & Rubber had a return on equity of 8.58% and a net margin of 1.25%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 EPS. On average, sell-side analysts expect that Cooper Tire & Rubber Co will post 2.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a $0.105 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.42 dividend on an annualized basis and a yield of 1.28%. Cooper Tire & Rubber’s payout ratio is currently 13.55%.

Several analysts have commented on the stock. Longbow Research reissued a “hold” rating on shares of Cooper Tire & Rubber in a research report on Monday, August 6th. ValuEngine upgraded shares of Cooper Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Wolfe Research initiated coverage on shares of Cooper Tire & Rubber in a report on Tuesday, October 2nd. They issued an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Cooper Tire & Rubber has a consensus rating of “Hold” and a consensus target price of $40.00.

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Cooper Tire & Rubber Profile

Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.

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

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