Bank of New York Mellon Corp Invests $2.86 Million in Cooper-Standard Holdings Inc. $CPS

Key Points

• Bank of New York Mellon acquired 105,717 Cooper-Standard shares worth approximately $2.86 million, representing a 0.60% stake. Institutional investors collectively own 69.11% of the company.
• Analyst sentiment is weak: Cooper-Standard has a consensus “Reduce” rating and a $48.33 target price, with two analysts rating it a Sell, one a Hold, and one a Buy.
• Cooper-Standard reported a quarterly loss of $0.13 per share, missing the $0.54 consensus estimate, although revenue of $721.35 million exceeded expectations. Shares opened at $27.06, near the lower end of their 52-week range.

Bank of New York Mellon Corp acquired a new stake in shares of Cooper-Standard Holdings Inc. (NYSE:CPS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 105,717 shares of the auto parts company's stock, valued at approximately $2,860,000. Bank of New York Mellon Corp owned 0.60% of Cooper-Standard as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new position in Cooper-Standard in the 2nd quarter valued at $127,000. GSA Capital Partners LLP acquired a new position in Cooper-Standard in the second quarter valued at $408,000. Quantinno Capital Management LP increased its stake in Cooper-Standard by 53.4% in the first quarter. Quantinno Capital Management LP now owns 12,281 shares of the auto parts company's stock valued at $342,000 after purchasing an additional 4,275 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Cooper-Standard by 60.9% during the first quarter. Public Employees Retirement System of Ohio now owns 19,981 shares of the auto parts company's stock worth $557,000 after buying an additional 7,566 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Cooper-Standard by 15.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 310,798 shares of the auto parts company's stock worth $8,662,000 after buying an additional 41,797 shares during the period. Institutional investors and hedge funds own 69.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CPS. Stifel Nicolaus dropped their price objective on shares of Cooper-Standard from $55.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Weiss Ratings downgraded shares of Cooper-Standard from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 31st. Finally, Zacks Research downgraded shares of Cooper-Standard from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $48.33.

Cooper-Standard Trading Down 0.4%

Shares of Cooper-Standard stock opened at $27.06 on Monday. Cooper-Standard Holdings Inc. has a twelve month low of $25.05 and a twelve month high of $47.98. The stock has a market cap of $480.86 million, a price-to-earnings ratio of -8.62 and a beta of 2.01. The company has a fifty day moving average price of $27.88 and a 200 day moving average price of $29.81.

Cooper-Standard (NYSE:CPS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.67). The business had revenue of $721.35 million during the quarter, compared to the consensus estimate of $708.90 million. Analysts forecast that Cooper-Standard Holdings Inc. will post 2.71 earnings per share for the current year.

Cooper-Standard 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.

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