Pacad Investment Ltd. reduced its stake in shares of Cooper-Standard Holdings Inc. (NYSE:CPS) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the auto parts company’s stock after selling 600 shares during the period. Pacad Investment Ltd.’s holdings in Cooper-Standard Holdings were worth $363,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in Cooper-Standard Holdings by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,621 shares of the auto parts company’s stock worth $164,000 after acquiring an additional 222 shares in the last quarter. Redwood Investments LLC grew its holdings in Cooper-Standard Holdings by 24.2% during the 2nd quarter. Redwood Investments LLC now owns 2,318 shares of the auto parts company’s stock worth $234,000 after acquiring an additional 451 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Cooper-Standard Holdings by 24.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,701 shares of the auto parts company’s stock worth $676,000 after acquiring an additional 1,318 shares in the last quarter. Comerica Bank grew its holdings in Cooper-Standard Holdings by 9.5% during the 2nd quarter. Comerica Bank now owns 26,127 shares of the auto parts company’s stock worth $2,672,000 after acquiring an additional 2,270 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Cooper-Standard Holdings by 12.6% during the 2nd quarter. Legal & General Group Plc now owns 38,759 shares of the auto parts company’s stock worth $3,908,000 after acquiring an additional 4,352 shares in the last quarter. 95.83% of the stock is owned by institutional investors.
In other Cooper-Standard Holdings news, insider Aleksandra A. Miziolek sold 865 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $101.00, for a total transaction of $87,365.00. Following the transaction, the insider now directly owns 866 shares in the company, valued at approximately $87,466. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Silver Point Capital L.P. sold 500 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $105.76, for a total transaction of $52,880.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,865 shares of company stock worth $26,870,515. 1.10% of the stock is owned by corporate insiders.
Several research analysts have weighed in on CPS shares. ValuEngine raised shares of Cooper-Standard Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 6th. Bank of America Corporation reissued an “underperform” rating and set a $85.00 price objective (down from $94.00) on shares of Cooper-Standard Holdings in a report on Friday, June 16th. BidaskClub lowered shares of Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $109.67.
Cooper-Standard Holdings Inc. (CPS) opened at 105.17 on Friday. The stock has a 50 day moving average of $101.10 and a 200-day moving average of $106.12. The company has a market capitalization of $1.87 billion, a P/E ratio of 13.25 and a beta of 0.73. Cooper-Standard Holdings Inc. has a 52-week low of $82.50 and a 52-week high of $118.59.
Cooper-Standard Holdings (NYSE:CPS) last issued its quarterly earnings results on Thursday, August 3rd. The auto parts company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.02. The business had revenue of $909.10 million for the quarter, compared to the consensus estimate of $884.02 million. Cooper-Standard Holdings had a net margin of 4.22% and a return on equity of 26.90%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.85 EPS. On average, equities analysts forecast that Cooper-Standard Holdings Inc. will post $10.70 earnings per share for the current year.
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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