Fruth Investment Management raised its stake in Goodyear Tire & Rubber Co (NASDAQ:GT) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,090 shares of the company’s stock after purchasing an additional 750 shares during the quarter. Fruth Investment Management’s holdings in Goodyear Tire & Rubber were worth $1,217,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GT. Valeo Financial Advisors LLC acquired a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $27,000. NuWave Investment Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 3,169.2% in the 1st quarter. NuWave Investment Management LLC now owns 1,700 shares of the company’s stock valued at $31,000 after buying an additional 1,648 shares during the period. First Mercantile Trust Co. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $35,000. Captrust Financial Advisors acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $43,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Goodyear Tire & Rubber by 58.9% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after buying an additional 914 shares during the period. Institutional investors own 88.38% of the company’s stock.
In related news, Director Werner Geissler purchased 35,000 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was bought at an average cost of $18.65 per share, with a total value of $652,750.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $932,500. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.
GT stock traded up $0.17 during midday trading on Tuesday, hitting $20.10. 2,388,958 shares of the stock were exchanged, compared to its average volume of 5,063,671. The stock has a market cap of $4.59 billion, a PE ratio of 8.63, a P/E/G ratio of -1.82 and a beta of 1.50. Goodyear Tire & Rubber Co has a fifty-two week low of $17.30 and a fifty-two week high of $28.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.64 and a current ratio of 1.24.
Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.04 billion. Goodyear Tire & Rubber had a return on equity of 11.17% and a net margin of 4.48%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, equities research analysts predict that Goodyear Tire & Rubber Co will post 2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.18%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 27.59%.
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About Goodyear Tire & Rubber
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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