Amalgamated Bank Lowers Holdings in Cooper Tire & Rubber Company (CTB)

Amalgamated Bank reduced its holdings in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,533 shares of the company’s stock after selling 186 shares during the period. Amalgamated Bank’s holdings in Cooper Tire & Rubber were worth $272,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew 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 worth $255,971,000 after purchasing an additional 5,756,018 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $136,583,000 after purchasing an additional 481,349 shares during the last quarter. Royce & Associates LP grew 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 worth $106,688,000 after purchasing an additional 369,045 shares during the last quarter. State Street Corp grew 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 worth $77,994,000 after purchasing an additional 638,424 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Cooper Tire & Rubber by 39.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,047,537 shares of the company’s stock worth $37,817,000 after purchasing an additional 296,340 shares during the last quarter.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Friday, August 4th. The company reported $0.85 EPS for the quarter, topping the 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 quarter in the prior year, the firm earned $1.27 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $0.105 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.42 annualized dividend and a dividend yield of 1.13%. Cooper Tire & Rubber’s dividend payout ratio is currently 11.67%.

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CTB has been the topic of several research reports. Jefferies Group LLC reissued a “hold” rating and set a $40.00 price objective on shares of Cooper Tire & Rubber in a research report on Sunday, September 10th. Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Monday, July 24th. BidaskClub downgraded shares of Cooper Tire & Rubber from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Standpoint Research raised shares of Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a research report on Tuesday, June 20th. Finally, FBR & Co reissued a “buy” rating and set a $53.00 price objective on shares of Cooper Tire & Rubber in a research report on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Cooper Tire & Rubber presently has a consensus rating of “Hold” and an average target price of $42.00.

About Cooper Tire & Rubber

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.

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

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