JPMorgan Chase & Co. Sells 477,066 Shares of Cooper Tire & Rubber Co (CTB)

JPMorgan Chase & Co. trimmed its stake in Cooper Tire & Rubber Co (NYSE:CTB) by 63.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,683 shares of the company’s stock after selling 477,066 shares during the period. JPMorgan Chase & Co. owned 0.53% of Cooper Tire & Rubber worth $10,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cipher Capital LP increased its position in Cooper Tire & Rubber by 679.0% during the 2nd quarter. Cipher Capital LP now owns 45,647 shares of the company’s stock valued at $1,648,000 after buying an additional 39,787 shares in the last quarter. First Trust Advisors LP increased its position in Cooper Tire & Rubber by 20.1% during the 3rd quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock valued at $2,111,000 after buying an additional 9,465 shares in the last quarter. American Century Companies Inc. increased its position in Cooper Tire & Rubber by 29.5% during the 3rd quarter. American Century Companies Inc. now owns 317,017 shares of the company’s stock valued at $11,856,000 after buying an additional 72,195 shares in the last quarter. Vanguard Group Inc. increased its position in Cooper Tire & Rubber by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,350,677 shares of the company’s stock valued at $157,060,000 after buying an additional 20,738 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Cooper Tire & Rubber by 1,109.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 522,894 shares of the company’s stock valued at $19,556,000 after buying an additional 479,671 shares in the last quarter.

Shares of Cooper Tire & Rubber Co (NYSE:CTB) opened at $35.70 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.59 and a current ratio of 2.67. The firm has a market capitalization of $1,850.98, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.17 and a beta of 0.07. Cooper Tire & Rubber Co has a one year low of $31.55 and a one year high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last posted its quarterly earnings results on Monday, October 30th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.33. The business had revenue of $733.80 million for the quarter, compared to the consensus estimate of $779.02 million. Cooper Tire & Rubber had a return on equity of 17.56% and a net margin of 7.18%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. equities research analysts forecast that Cooper Tire & Rubber Co will post 3.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.105 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.18%. Cooper Tire & Rubber’s payout ratio is 10.82%.

Several research analysts recently issued reports on the company. Jefferies Group reaffirmed a “hold” rating and set a $35.00 target price on shares of Cooper Tire & Rubber in a research report on Tuesday, October 31st. FBR & Co reiterated a “buy” rating and set a $50.00 price target on shares of Cooper Tire & Rubber in a research note on Tuesday, October 31st. KeyCorp reiterated a “buy” rating and set a $42.00 price target on shares of Cooper Tire & Rubber in a research note on Wednesday, November 1st. B. Riley reiterated a “buy” rating and set a $50.00 price target on shares of Cooper Tire & Rubber in a research note on Monday, December 11th. Finally, ValuEngine upgraded Cooper Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Cooper Tire & Rubber has a consensus rating of “Hold” and an average price target of $44.86.

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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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