MARSHALL WACE ASIA Ltd Invests $210,000 in Cooper Tire & Rubber Company (CTB)

MARSHALL WACE ASIA Ltd purchased a new position in Cooper Tire & Rubber Company (NYSE:CTB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,764 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also recently added to or reduced their stakes in the company. Fairpointe Capital LLC raised its stake in Cooper Tire & Rubber by 26.3% in the first quarter. Fairpointe Capital LLC now owns 2,940,825 shares of the company’s stock worth $130,426,000 after buying an additional 613,045 shares in the last quarter. Apertura Capital LLC acquired a new stake in Cooper Tire & Rubber during the first quarter valued at approximately $12,196,000. Thrivent Financial For Lutherans purchased a new stake in Cooper Tire & Rubber during the first quarter valued at about $440,000. Fifth Third Bancorp purchased a new stake in Cooper Tire & Rubber during the first quarter valued at about $557,000. Finally, Legal & General Group Plc increased its stake in Cooper Tire & Rubber by 28.8% in the first quarter. Legal & General Group Plc now owns 70,796 shares of the company’s stock valued at $3,138,000 after buying an additional 15,814 shares in the last quarter.

Cooper Tire & Rubber Company (NYSE:CTB) traded down 1.07% on Tuesday, hitting $37.15. The stock had a trading volume of 32,007 shares. Cooper Tire & Rubber Company has a 1-year low of $29.74 and a 1-year high of $44.50. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.19 and a beta of -0.02. The company has a 50-day moving average price of $36.33 and a 200-day moving average price of $38.94.

Cooper Tire & Rubber (NYSE:CTB) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.12. The firm had revenue of $643.03 million for the quarter, compared to analysts’ expectations of $687.92 million. Cooper Tire & Rubber had a net margin of 7.54% and a return on equity of 20.38%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. Equities analysts predict that Cooper Tire & Rubber Company will post $3.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 1st were issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.12%. Cooper Tire & Rubber’s dividend payout ratio is 10.45%.

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A number of equities analysts have recently issued reports on CTB shares. Zacks Investment Research upgraded shares of Cooper Tire & Rubber from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, April 25th. FBR & Co increased their price objective on shares of Cooper Tire & Rubber from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, March 23rd. Northcoast Research cut shares of Cooper Tire & Rubber from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 18th. Standpoint Research raised shares of Cooper Tire & Rubber from a “hold” rating to an “accumulate” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $40.00 target price on shares of Cooper Tire & Rubber in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.57.

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.

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

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