Principal Financial Group Inc. Makes New $669,000 Investment in Cooper-Standard Holdings Inc. $CPS

Principal Financial Group Inc. acquired a new stake in shares of Cooper-Standard Holdings Inc. (NYSE:CPS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,119 shares of the auto parts company’s stock, valued at approximately $669,000. Principal Financial Group Inc. owned about 0.10% of Cooper-Standard at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Cooper-Standard in the third quarter worth $30,000. New York State Teachers Retirement System bought a new stake in Cooper-Standard in the 3rd quarter worth $57,000. Geneos Wealth Management Inc. raised its stake in shares of Cooper-Standard by 60.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,804 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 682 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Cooper-Standard by 136.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 1,432 shares during the period. Finally, Abound Wealth Management purchased a new stake in shares of Cooper-Standard during the third quarter worth about $116,000. Institutional investors own 69.11% of the company’s stock.

Cooper-Standard Stock Down 10.7%

CPS stock opened at $38.95 on Thursday. The business has a 50 day moving average of $33.91 and a 200 day moving average of $33.42. The firm has a market cap of $687.11 million, a PE ratio of -162.30 and a beta of 1.94. Cooper-Standard Holdings Inc. has a twelve month low of $10.38 and a twelve month high of $47.98.

Cooper-Standard (NYSE:CPS) last released its earnings results on Thursday, February 12th. The auto parts company reported ($1.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.78). The firm had revenue of $672.37 million during the quarter, compared to analysts’ expectations of $641.51 million.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CPS shares. Stifel Nicolaus boosted their target price on Cooper-Standard from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Wall Street Zen raised shares of Cooper-Standard from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Zacks Research raised shares of Cooper-Standard from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Citigroup lifted their target price on shares of Cooper-Standard from $35.00 to $43.65 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings downgraded shares of Cooper-Standard from a “hold (c-)” rating to a “sell (d+)” rating in a research note 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.com, the stock currently has an average rating of “Hold” and an average price target of $43.33.

About Cooper-Standard

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.