State Board of Administration of Florida Retirement System increased its stake in shares of Cooper-Standard Holdings Inc. (NYSE:CPS) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,190 shares of the company’s stock after buying an additional 501 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cooper-Standard Holdings were worth $489,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in CPS. Acrospire Investment Management LLC acquired a new position in shares of Cooper-Standard Holdings during the first quarter valued at approximately $146,000. Suntrust Banks Inc. acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at approximately $226,000. Kalos Management Inc. acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at approximately $301,000. Wedge Capital Management L L P NC acquired a new position in shares of Cooper-Standard Holdings during the second quarter valued at approximately $346,000. Finally, Royal Bank of Canada increased its position in shares of Cooper-Standard Holdings by 143.6% in the first quarter. Royal Bank of Canada now owns 6,425 shares of the company’s stock valued at $462,000 after buying an additional 3,788 shares during the period. 96.91% of the stock is currently owned by hedge funds and other institutional investors.
Cooper-Standard Holdings Inc. (NYSE:CPS) traded down 0.73% during midday trading on Friday, reaching $101.39. The company’s stock had a trading volume of 36,739 shares. The company has a 50 day moving average price of $100.75 and a 200 day moving average price of $86.95. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 14.96 and a beta of 0.62. Cooper-Standard Holdings Inc. has a 1-year low of $62.87 and a 1-year high of $107.94.
Cooper-Standard Holdings (NYSE:CPS) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.61. The business had revenue of $879.30 million for the quarter, compared to analysts’ expectations of $875.98 million. Cooper-Standard Holdings had a return on equity of 31.20% and a net margin of 3.68%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Cooper-Standard Holdings Inc. will post $10.18 EPS for the current year.
Several equities analysts have commented on the company. Jefferies Group cut their price objective on Cooper-Standard Holdings from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. Roth Capital set a $115.00 price target on Cooper-Standard Holdings and gave the stock a “buy” rating in a research report on Sunday, September 18th. Zacks Investment Research downgraded Cooper-Standard Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Seaport Global Securities started coverage on Cooper-Standard Holdings in a research report on Tuesday, August 9th. They set a “buy” rating and a $108.00 price target on the stock. Finally, Buckingham Research downgraded Cooper-Standard Holdings from a “buy” rating to a “neutral” rating and increased their price target for the stock from $101.00 to $105.00 in a research report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $101.86.
In related news, SVP William Pumphrey sold 5,244 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $95.86, for a total value of $502,689.84. Following the sale, the senior vice president now owns 14,837 shares in the company, valued at approximately $1,422,274.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Hill Advisors Genpar L.P. Oak sold 715,473 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $87.01, for a total value of $62,253,305.73. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
About Cooper-Standard Holdings
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
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