Cooper Tire & Rubber (NYSE:CTB) hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $27.70 and last traded at $27.62, with a volume of 250251 shares changing hands. The stock had previously closed at $28.45.
Several research firms have weighed in on CTB. Northcoast Research raised shares of Cooper Tire & Rubber from a “neutral” rating to a “buy” rating in a report on Wednesday, January 10th. ValuEngine cut shares of Cooper Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. JPMorgan Chase lowered their price target on shares of Cooper Tire & Rubber from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. TheStreet cut shares of Cooper Tire & Rubber from a “b” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Zacks Investment Research raised shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Cooper Tire & Rubber has an average rating of “Hold” and an average price target of $43.63.
The firm has a market cap of $1,513.78, a price-to-earnings ratio of 9.02 and a beta of 0.43. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.25.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.42 annualized dividend and a dividend yield of 1.51%. Cooper Tire & Rubber’s dividend payout ratio is presently 13.55%.
In other Cooper Tire & Rubber news, Director Robert D. Welding bought 1,500 shares of the stock in a transaction dated Friday, March 9th. The shares were bought at an average cost of $32.30 per share, with a total value of $48,450.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $96,900. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.74% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Elkfork Partners LLC acquired a new stake in shares of Cooper Tire & Rubber during the 4th quarter worth approximately $168,000. Unison Advisors LLC acquired a new stake in shares of Cooper Tire & Rubber during the 4th quarter worth approximately $224,000. Taylor Hoffman Wealth Management acquired a new stake in shares of Cooper Tire & Rubber during the 4th quarter worth approximately $281,000. Crossmark Global Holdings Inc. boosted its position in shares of Cooper Tire & Rubber by 20.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,628 shares of the company’s stock worth $340,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Cooper Tire & Rubber during the 4th quarter worth approximately $420,000.
About Cooper Tire & Rubber
Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, and markets replacement tires in North America, Latin America, Europe, and Asia. The company operates through Americas Tire Operations and International Tire Operations segments. It manufactures and markets passenger car, light truck, motorcycle, and racing tires, as well as tire retread material; and distributes tires for racing, medium trucks, and motorcycles.
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