Millrace Asset Group Inc. Acquires New Holdings in Cooper-Standard Holdings Inc. (NYSE:CPS)

Millrace Asset Group Inc. bought a new position in shares of Cooper-Standard Holdings Inc. (NYSE:CPS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 79,020 shares of the auto parts company’s stock, valued at approximately $1,096,000. Millrace Asset Group Inc. owned about 0.46% of Cooper-Standard as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Cooper-Standard by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 905,185 shares of the auto parts company’s stock worth $14,990,000 after acquiring an additional 33,598 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Cooper-Standard by 5.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 122,860 shares of the auto parts company’s stock valued at $2,035,000 after purchasing an additional 6,236 shares during the period. Fiduciary Alliance LLC increased its holdings in Cooper-Standard by 21.2% in the second quarter. Fiduciary Alliance LLC now owns 259,085 shares of the auto parts company’s stock valued at $3,096,000 after purchasing an additional 45,402 shares during the period. Bank of New York Mellon Corp raised its position in Cooper-Standard by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,427 shares of the auto parts company’s stock worth $1,237,000 after purchasing an additional 6,559 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Cooper-Standard by 36.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 77,450 shares of the auto parts company’s stock worth $963,000 after buying an additional 20,758 shares during the period. Institutional investors own 69.11% of the company’s stock.

Cooper-Standard Stock Performance

Shares of NYSE CPS opened at $14.68 on Tuesday. Cooper-Standard Holdings Inc. has a 52-week low of $11.24 and a 52-week high of $20.82. The company’s 50 day moving average price is $14.08 and its 200-day moving average price is $13.72. The company has a market capitalization of $254.40 million, a P/E ratio of -1.48 and a beta of 2.74.

Cooper-Standard (NYSE:CPS) last issued its quarterly earnings results on Thursday, October 31st. The auto parts company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.50. The firm had revenue of $685.35 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cooper-Standard from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th.

Cooper-Standard Profile

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, manufactures and sells sealing, fuel and brake delivery, and fluid transfer systems in the United States, Mexico, China, Poland, Canada, Germany, France, and internationally. The company offers sealing systems, including dynamic seals, static seals, encapsulated glasses, textured surfaces with cloth appearance, obstacle detection sensor systems, FlushSeal systems, variable extrusions, specialty sealing products, stainless steel trims, and frameless systems.