State of New Jersey Common Pension Fund D Reduces Position in Cooper Tire & Rubber Company (CTB)

State of New Jersey Common Pension Fund D reduced its position in shares of Cooper Tire & Rubber Company (NYSE:CTB) by 61.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,000 shares of the company’s stock after selling 430,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.52% of Cooper Tire & Rubber worth $10,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in Cooper Tire & Rubber by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,083 shares of the company’s stock worth $400,000 after purchasing an additional 28 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Cooper Tire & Rubber by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,725 shares of the company’s stock worth $279,000 after purchasing an additional 31 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Cooper Tire & Rubber by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 68,238 shares of the company’s stock worth $2,463,000 after purchasing an additional 240 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in Cooper Tire & Rubber by 3.8% during the 2nd quarter. Capstone Asset Management Co. now owns 7,449 shares of the company’s stock worth $269,000 after purchasing an additional 270 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in Cooper Tire & Rubber by 6.8% during the 2nd quarter. Advisory Services Network LLC now owns 4,751 shares of the company’s stock worth $172,000 after purchasing an additional 304 shares during the last quarter.

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Cooper Tire & Rubber Company (NYSE CTB) opened at 32.80 on Wednesday. The stock’s 50 day moving average price is $36.18 and its 200-day moving average price is $36.52. The firm has a market cap of $1.71 billion and a PE ratio of 9.07. Cooper Tire & Rubber Company has a 12-month low of $31.55 and a 12-month high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last released its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. Cooper Tire & Rubber had a return on equity of 17.84% and a net margin of 7.18%. The business had revenue of $733.80 million for the quarter, compared to the consensus estimate of $779.02 million. During the same quarter last year, the business posted $1.04 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Cooper Tire & Rubber Company will post $3.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.105 per share. The ex-dividend date is Thursday, 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 10.82%.

Several equities analysts have weighed in on the company. FBR & Co reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Cooper Tire & Rubber in a report on Tuesday. BidaskClub raised Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, August 1st. Finally, Deutsche Bank AG lifted their price objective on Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, August 7th. Three equities research 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’s stock. Cooper Tire & Rubber currently has a consensus rating of “Hold” and a consensus price target of $40.67.

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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