Bank of New York Mellon Corp Grows Position in Cooper-Standard Holdings Inc. (CPS)
Bank of New York Mellon Corp increased its holdings in shares of Cooper-Standard Holdings Inc. (NYSE:CPS) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,863 shares of the auto parts company’s stock after acquiring an additional 5,503 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.53% of Cooper-Standard Holdings worth $27,523,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mason Street Advisors LLC raised its stake in Cooper-Standard Holdings by 7.3% during the first quarter. Mason Street Advisors LLC now owns 4,139 shares of the auto parts company’s stock worth $459,000 after acquiring an additional 281 shares during the period. Thrivent Financial For Lutherans raised its stake in Cooper-Standard Holdings by 3.6% during the first quarter. Thrivent Financial For Lutherans now owns 9,880 shares of the auto parts company’s stock worth $1,096,000 after acquiring an additional 340 shares during the period. Wells Fargo & Company MN raised its stake in Cooper-Standard Holdings by 29.8% during the first quarter. Wells Fargo & Company MN now owns 220,521 shares of the auto parts company’s stock worth $24,462,000 after acquiring an additional 50,660 shares during the period. SG Americas Securities LLC raised its stake in Cooper-Standard Holdings by 12.2% during the first quarter. SG Americas Securities LLC now owns 4,212 shares of the auto parts company’s stock worth $467,000 after acquiring an additional 458 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Cooper-Standard Holdings during the first quarter worth about $516,000. Hedge funds and other institutional investors own 95.83% of the company’s stock.
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Cooper-Standard Holdings Inc. (CPS) opened at 101.77 on Wednesday. Cooper-Standard Holdings Inc. has a 12-month low of $82.50 and a 12-month high of $118.59. The stock has a 50 day moving average of $101.01 and a 200 day moving average of $106.23. The company has a market capitalization of $1.80 billion, a PE ratio of 12.82 and a beta of 0.73.
Cooper-Standard Holdings (NYSE:CPS) last issued its quarterly earnings results on Thursday, August 3rd. The auto parts company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.58 by $0.02. Cooper-Standard Holdings had a net margin of 4.22% and a return on equity of 26.90%. The company had revenue of $909.10 million during the quarter, compared to analysts’ expectations of $884.02 million. During the same quarter in the previous year, the company earned $2.85 EPS. Cooper-Standard Holdings’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Cooper-Standard Holdings Inc. will post $10.70 EPS for the current year.
In related news, major shareholder Silver Point Capital L.P. sold 110,500 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $105.42, for a total transaction of $11,648,910.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aleksandra A. Miziolek sold 865 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $101.00, for a total transaction of $87,365.00. Following the transaction, the insider now owns 866 shares of the company’s stock, valued at approximately $87,466. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,865 shares of company stock valued at $26,870,515. 1.10% of the stock is owned by corporate insiders.
Several research firms recently weighed in on CPS. Zacks Investment Research upgraded shares of Cooper-Standard Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Cooper-Standard Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine cut shares of Cooper-Standard Holdings from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $85.00 target price (down previously from $94.00) on shares of Cooper-Standard Holdings in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $109.67.
Cooper-Standard Holdings Profile
Cooper-Standard Holdings Inc is a holding company. The Company designs, manufactures and sells sealing, fuel and brake delivery, fluid transfer and anti-vibration systems for use in passenger vehicles and light trucks manufactured by global original equipment manufacturers (OEMs). The Company operates through four segments: North America, Europe, Asia Pacific and South America.
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