JPMorgan Chase & Co. Purchases 28,264 Shares of Cooper-Standard Holdings Inc. $CPS
by Kim Johansen · The Markets DailyJPMorgan Chase & Co. raised its position in shares of Cooper-Standard Holdings Inc. (NYSE:CPS – Free Report) by 173.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,564 shares of the auto parts company’s stock after acquiring an additional 28,264 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cooper-Standard were worth $1,646,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in CPS. Geneos Wealth Management Inc. raised its holdings in Cooper-Standard by 60.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock worth $39,000 after acquiring an additional 682 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Cooper-Standard in the 3rd quarter worth approximately $30,000. Harbor Capital Advisors Inc. raised its holdings in Cooper-Standard by 43.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,827 shares of the auto parts company’s stock worth $141,000 after acquiring an additional 1,167 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Cooper-Standard by 136.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock worth $53,000 after acquiring an additional 1,432 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Cooper-Standard in the 3rd quarter worth approximately $57,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
Cooper-Standard Trading Up 12.0%
NYSE:CPS opened at $30.87 on Thursday. Cooper-Standard Holdings Inc. has a 12 month low of $10.38 and a 12 month high of $47.98. The company has a market cap of $544.53 million, a PE ratio of -128.62 and a beta of 2.00. The company has a 50 day simple moving average of $33.44 and a two-hundred day simple moving average of $33.09.
Cooper-Standard (NYSE:CPS – Get Free Report) last posted its earnings results on Friday, February 13th. The auto parts company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.78). The business had revenue of $672.37 million for the quarter, compared to analyst estimates of $641.51 million.
Insider Buying and Selling
In related news, Director David John Mastrocola bought 3,391 shares of the business’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $29.77 per share, with a total value of $100,950.07. Following the transaction, the director owned 25,000 shares in the company, valued at approximately $744,250. This trade represents a 15.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have purchased 6,885 shares of company stock valued at $208,144. Insiders own 8.80% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on CPS shares. Citigroup boosted their price objective on shares of Cooper-Standard from $35.00 to $43.65 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Zacks Research upgraded shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Stifel Nicolaus boosted their price objective on shares of Cooper-Standard from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen lowered shares of Cooper-Standard from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Weiss Ratings lowered shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cooper-Standard currently has a consensus rating of “Hold” and a consensus price target of $43.33.
View Our Latest Analysis on Cooper-Standard
Cooper-Standard Company Profile
Cooper-Standard Holding Inc is a global supplier of sealing, fuel and brake delivery, and fluid transfer systems for the automotive industry. The company designs and manufactures engineered rubber, plastic and metal products, including sealing systems for doors, windows and powertrain assemblies, fuel and brake hoses and lines, and fluid transfer components such as coolant, refrigerant and washer fluid systems.
Founded in 1922 and headquartered in Novi, Michigan, Cooper-Standard operates manufacturing facilities and technical centers across North America, Europe, South America and Asia.
Further Reading
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