Texas Permanent School Fund Has $1.06 Million Stake in Cooper Tire & Rubber Co (CTB)
Texas Permanent School Fund increased its position in Cooper Tire & Rubber Co (NYSE:CTB) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,766 shares of the company’s stock after acquiring an additional 1,268 shares during the period. Texas Permanent School Fund’s holdings in Cooper Tire & Rubber were worth $1,059,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTB. Victory Capital Management Inc. acquired a new stake in shares of Cooper Tire & Rubber in the 4th quarter worth approximately $23,031,000. Rutabaga Capital Management LLC MA acquired a new stake in shares of Cooper Tire & Rubber in the 3rd quarter worth approximately $15,111,000. SG Capital Management LLC acquired a new stake in shares of Cooper Tire & Rubber in the 4th quarter worth approximately $16,924,000. BlackRock Inc. grew its holdings in shares of Cooper Tire & Rubber by 4.1% in the 4th quarter. BlackRock Inc. now owns 7,480,493 shares of the company’s stock worth $241,845,000 after acquiring an additional 295,428 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Cooper Tire & Rubber by 129.5% in the 4th quarter. Prudential Financial Inc. now owns 213,412 shares of the company’s stock worth $6,900,000 after acquiring an additional 120,420 shares during the period.
A number of research firms recently weighed in on CTB. Longbow Research restated a “hold” rating on shares of Cooper Tire & Rubber in a report on Friday, January 18th. TheStreet upgraded Cooper Tire & Rubber from a “c+” rating to a “b-” rating in a report on Wednesday, November 21st. Northcoast Research set a $38.00 price target on Cooper Tire & Rubber and gave the stock a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research cut Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Finally, ValuEngine cut Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $37.00.
Cooper Tire & Rubber (NYSE:CTB) last announced its earnings results on Tuesday, February 19th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $770.50 million for the quarter, compared to analysts’ expectations of $773.82 million. Cooper Tire & Rubber had a return on equity of 9.12% and a net margin of 2.73%. Cooper Tire & Rubber’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, equities research analysts forecast that Cooper Tire & Rubber Co will post 2.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, February 28th. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 19.27%.
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Cooper Tire & Rubber Profile
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells 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, truck and bus radial (TBR), motorcycle, and racing tires, as well as tire retread materials; and markets and distributes racing, TBR, and motorcycle tires.
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