Icon Advisers Inc. Co. Buys Shares of 7,800 Cooper Tire & Rubber Company (CTB)

Icon Advisers Inc. Co. bought a new position in Cooper Tire & Rubber Company (NYSE:CTB) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,800 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Cooper Tire & Rubber by 15.9% in the 1st quarter. Principal Financial Group Inc. now owns 981,942 shares of the company’s stock valued at $43,549,000 after buying an additional 134,800 shares during the last quarter. Cipher Capital LP increased its stake in Cooper Tire & Rubber by 679.0% in 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 during the last quarter. Victory Capital Management Inc. increased its stake in Cooper Tire & Rubber by 39.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,047,537 shares of the company’s stock valued at $37,817,000 after buying an additional 296,340 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Cooper Tire & Rubber by 487.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,905 shares of the company’s stock valued at $351,000 after buying an additional 6,559 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in Cooper Tire & Rubber by 2.6% in the 2nd quarter. Federated Investors Inc. PA now owns 152,705 shares of the company’s stock valued at $5,513,000 after buying an additional 3,871 shares during the last quarter. Institutional investors own 94.58% of the company’s stock.

Shares of Cooper Tire & Rubber Company (NYSE CTB) opened at 34.65 on Wednesday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 9.59 and a beta of -0.03. The firm has a 50-day moving average of $34.23 and a 200 day moving average of $37.86. Cooper Tire & Rubber Company has a 1-year low of $32.78 and a 1-year high of $44.50.

Cooper Tire & Rubber (NYSE:CTB) last issued its earnings results on Friday, August 4th. The company reported $0.85 earnings per share (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 analysts’ expectations of $775.00 million. Cooper Tire & Rubber had a net margin of 6.71% and a return on equity of 17.67%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 earnings per share. Equities research analysts forecast that Cooper Tire & Rubber Company will post $3.40 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.105 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.42 annualized dividend and a yield of 1.21%. Cooper Tire & Rubber’s dividend payout ratio (DPR) is presently 11.67%.

Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Cooper Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price objective on shares of Cooper Tire & Rubber in a research note on Thursday, July 6th. Deutsche Bank AG increased their price objective on shares of Cooper Tire & Rubber from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Finally, FBR & Co reiterated a “buy” rating and issued a $53.00 price objective on shares of Cooper Tire & Rubber in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.00.

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Cooper Tire & Rubber Company Profile

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.

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

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