Visium Asset Management Lp buys $17,043,514 stake in Cooper Tire & Rubber Co (CTB)

Cooper Tire & Rubber Co (CTB) : Visium Asset Management Lp scooped up 182,476 additional shares in Cooper Tire & Rubber Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 502,314 shares of Cooper Tire & Rubber Co which is valued at $17,043,514.Cooper Tire & Rubber Co makes up approximately 1.66% of Visium Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Cornercap Investment Counsel Inc boosted its stake in CTB in the latest quarter, The investment management firm added 1,025 additional shares and now holds a total of 39,808 shares of Cooper Tire & Rubber Co which is valued at $1,350,685. Cooper Tire & Rubber Co makes up approx 0.24% of Cornercap Investment Counsel Inc’s portfolio.Blackrock Group Ltd boosted its stake in CTB in the latest quarter, The investment management firm added 6,672 additional shares and now holds a total of 45,334 shares of Cooper Tire & Rubber Co which is valued at $1,538,183.Quantbot Technologies Lp boosted its stake in CTB in the latest quarter, The investment management firm added 20,052 additional shares and now holds a total of 25,149 shares of Cooper Tire & Rubber Co which is valued at $805,774. Cooper Tire & Rubber Co makes up approx 0.08% of Quantbot Technologies Lp’s portfolio.Meeder Asset Management Inc reduced its stake in CTB by selling 31,611 shares or 68.6% in the most recent quarter. The Hedge Fund company now holds 14,471 shares of CTB which is valued at $436,879. Cooper Tire & Rubber Co makes up approx 0.04% of Meeder Asset Management Inc’s portfolio.

Cooper Tire & Rubber Co opened for trading at $33.92 and hit $34.12 on the upside on Monday, eventually ending the session at $34.06, with a gain of 0.32% or 0.11 points. The heightened volatility saw the trading volume jump to 3,58,471 shares. Company has a market cap of $1,844 M.

On the company’s financial health, Cooper Tire & Rubber Co reported $1.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.05. The company had revenue of $740.00 million for the quarter, compared to analysts expectations of $743.19 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.03 EPS.

Investors should note that on Aug 3, 2016, Cooper Tire & Rubber Co announced a cash dividend of $0.1050. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Cooper Tire & Rubber Co. Northcoast Upgraded Cooper Tire & Rubber Co on Jul 26, 2016 to ” Buy”, Price Target of the shares are set at $37.Standpoint Research Initiated Cooper Tire & Rubber Co on May 27, 2016 to “Buy”, Price Target of the shares are set at $40.

Cooper Tire & Rubber Company (Cooper) is a manufacturer and marketer of replacement tires. The Company specializes in the design manufacture marketing and sales of passenger car and light truck tires. Cooper and its subsidiaries also sell medium truck motorcycle and racing tires. The Company operates in two segments: Americas Tire Operations and International Tire Operations. The Americas Tire Operations segment manufactures and markets passenger car and light truck tires primarily for sale in the United States replacement market. It supplies passenger car tires. The segment also distributes tires for racing medium truck and motorcycles. The racing and motorcycle tires are manufactured in the Company’s International Tire Operations segment and by others. The distribution channels and customers include independent tire dealers wholesale distributors regional and national retail tire chains and retail chains that sell tires as well as other automotive products.

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