CTB Cooper Tire & Rubber Company
- Price as of: Oct 27, 04:02 PM EDT
- Rubber & plastics
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CTB Daily Snapshot
- Quote Time:
- Oct 27, 04:02 PM
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- Day's Range:
- $35.07 - $36.00
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- 52 Week Low / High:
- $29.29 - $43.40
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CTB Dividend Growth History
CTB Dividend History
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CTB Company Profile
Cooper Tire- (CTB)-manufactures and markets replacement tires primarily in North America and internationally. It produces car and light truck tires for independent tire dealers, wholesale distributors, regional and national retail tire chains, and other large automotive product retail chains. The company also produces passenger car, light truck, racing and motorcycle tires and markets these products to dealers in the replacement markets. In addition, it produces bias, radial light and medium truck tires, and off-the-road tires. Cooper Tire & Rubber Company was founded in 1913 and is based in Findlay, Ohio.
Cooper Tire & Rubber Company News
Cooper Tire & Rubber Co Terminates $2.5B Merger Deal With Apollo Tyres; Shares Tumble (CTB)Dec 30, 2013Shares of Cooper Tire & Rubber Co (CTB) were down on Monday morning after it reported that it has terminated a $2.5 billion deal with Apollo Tyres. CTB announced that its merger agreement which was signed on June 12 with India-based Apollo Tyres will not be completed. Cooper said that it will continue to seek opportunities to grow its business. The company also expects to be profitable in the second half of 2014. Cooper's Chairman & CEO commented: "Addressing the situation at Cooper Chengshan Tire (CCT) in Rongcheng, China is our top priority in the near term. The issues at CCT were driven by the merger agreement, and with the agreement now terminated, Cooper is working independently to restore normal operations at CCT, including obtaining the information needed for Cooper to resume regular financial reporting as soon as possible." Cooper Tire & Rubber shares were down 81 cents, or 3.53% during premarket trading Monday. The stock is down 9% YTD.Expand to read the full story
More Trouble for the Cooper Tire Deal (CTB)Oct 7, 2013Cooper Tire & Rubber Company (CTB) skidded lower today as their buyout from India's Apollo Tyres has run into some issues. Back in June, Apollo agreed to buy Cooper for about $2.5 billion, paying around $35 per share of the company. Though Cooper's stock initially surged, pushback from workers as well as some other problems have watched its stock fall. Now, Apollo is trying to renegotiate the price, even referencing $8 or $9 a share as a possibility. Thus far, the two sides are not at all seeing eye to eye, with contradictory statements coming from both camps. One thing is certain, Cooper's stock is not reacting well to the news. Cooper shares plummeted $3.79, or 14.74%, at Monday's close. The stock is nearly flat on the year, after surging 41% upon the initial announcement in June.Expand to read the full story
The Bottom LineShares of Cooper Tire & Rubber Company (CTB) are currently yielding 1.63% based on Monday's closing price of $25.72. Cooper Tire & Rubber Company (CTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Cooper Tire Stockholders Approve Merger (CTB)Sep 30, 2013Cooper Tire & Rubber Company (CTB) announced on Monday that its shareholders voted to approve the pending merger with Apollo Tyres Ltd. With a 74% majority in favor of the transaction, Cooper Tire will now be able to move forward with merging with the wholly-owned subsidiary of Apollo Tyres. Once the merger is finalized, the company will become the seventh-largest tire company in the world. Commenting on the vote, CEO and President Roy Armes noted "We are pleased stockholders endorsed this compelling transaction, which will create a $6.6 billion leader in the tire industry with a strong global footprint that includes a presence in the world's largest tire market of North America as well as in the fastest growing geographies of India and China." Cooper Tire & Rubber Company shares moved up 0.42% during Monday's session. Year-to-date, the stock is up 16.97%.Expand to read the full story
The Bottom LineShares of Cooper Tire & Rubber Company (CTB) currently yield 1.40% based on Monday's closing price of $30.80 and its annual payout of 42 cents. Cooper Tire & Rubber Company (CTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Cooper Tire & Rubber Q2 Profit and Sales Fall, Missing Estimates (CTB)Aug 8, 2013Before the bell on Thursday, Cooper Tire & Rubber Co (CTB) , which will soon be acquired by Apollo Tyres, reported a 16% decline in second quarter profits on 17% lower revenues. Both results missed Wall Street estimates. The Findlay, Ohio-based company posted a second quarter net income of $35.49 million, or 55 cents per share, down from $51.75 million, or 82 cents per share, earned in the same period a year ago. According to analysts polled by Thomson Reuters, the company was expected to earn 93 cents per share in the quarter. Cooper Tire's operating profit also fell, coming in at $69.17 million in the most recent quarter from $95.41 million a year ago. The company's net sales declined to $884.13 million from $1.06 billion last year. Analysts were expecting the company to see $973.33 million in revenues for the quarter. "Clearly, the big news in the second quarter was the pending merger with Apollo, a transaction that, subject to customary closing conditions, will create a combined company with approximately $6.6 billion in total sales and a strong presence in high-growth end-markets across four continents," said Cooper Chairman, Chief Executive Officer and President Roy Armes. "We are excited about the long-term growth opportunities the pending merger will create and expect it to close before the end of this year. With regard to Cooper’s second quarter results, the period was one of challenge for the economy, the tire industry, and Cooper as we continued to navigate through a tough business environment. We are pleased with the initial reaction to the pricing changes we made toward the end of the quarter, but more remains to be seen as we enter the third quarter. While the second quarter was challenging, we are pleased to have ended the first half of 2013 with operating profit that is $4 million higher than the same time last year, excluding one-time items. Cooper has once again demonstrated an ability to deliver bottom line results across varied industry conditions." In June, Apollo Tyres announced that it would acquire Cooper Tire & Rubber for $2.5 billion cash. As a part of the deal, Cooper Tire shareholders would receive $35 per share in cash. Cooper Tire & Rubber shares were down 39 cents, or 1.12%, during early morning trading on Thursday. The stock is up 32.37% year-to-date. The Bottom Line Shares of Cooper Tire (CTB) offer a dividend yield of 1.24% based on last night's closing price of $33.89 and the company's annualized dividend payout of 42 cents per share. Cooper Tire & Rubber Co (CTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
Apollo Tyres to Acquire Cooper Tire & Rubber Company for $2.5 Billion (CTB)Jun 12, 2013On Wednesday, Cooper Tire & Rubber Company (CTB) and Apollo Tyres announced a definitive agreement where Apollo Tyres will acquire Cooper Tires in an all-cash transaction valued at about $2.5 billion. A wholly owned subsidiary of Apollo Tyres, a high performance manufacturer headquartered in India, will acquire the Ohio-based tire manufacturer. Shareholders of Cooper will receive $35 per share in the deal, a 40% premium over the stock's 30-day volume-weighted average price. Terms of the agreement have already been unanimously approved by the board of directors of booth companies. The close of the transaction, assuming normal and timely regulatory approvals and closing conditions and approval by Cooper shareholders, will take place in the second half of 2013. The company will no longer be traded on the New York Stock Exchange. According to a press release, the merger will make the combined company the seventh-largest tire company in the world. Cooper Tire shares were up $10.08, or +41.04%, during morning trading on Wednesday. The stock is up +36.99% year-to-date. The Bottom Line Shares of Cooper Tire (CTB) have a dividend yield of 1.71% based on last night's closing price of $24.56 and the company's annualized dividend payout of 42 cents per share. Cooper Tire & Rubber Company (CTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
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Cooper Tire Swings to Q3 Profit, Easily Beats View (CTB)Nov 2, 2009Tire maker Cooper Tire & Rubber Company (CTB) said Monday that it swung to a third quarter profit, helped by lower costs and slightly higher revenue. The Findlay, Ohio-based company reported third quarter net income of $46.8 million, or 77 cents per share, compared with a net loss of $55.4 million, or 94 cents per share, in the year-ago period. Revenue rose 1% from last year, to $803 million. On average, Wall Street analysts expected a much lower profit of 62 cents per share. Cooper Ties shares rose $1.72, or +11.3%, in morning trading Monday. The Bottom Line We recently removed shares of CTB from our "recommended" list on Sept.30, when the stock was trading at $17.42. The company has a 2.75% dividend yield, base on Friday's closing stock price of $17.42. The stock has technical support in the $12 price area. If the shares can build momentum on today's early rebound, we see overhead resistance around the $18 price levels. Cooper Tire & Rubber Company (CTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
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