COOPER TIRE & RUBBER (CTB) Stocks
ABOUT COOPER TIRE & RUBBER
📊 Cooper Tire & Rubber Company, an American tire company, was founded in 1914 and has its headquarters in Findlay, Ohio. The company focuses on the design, manufacture, marketing and sales of replacement vehicle and truck tires.
📊 The company’s subsidiaries specialize in medium truck, motorcycle and racing tires. The company was established as the M and M Manufacturing Company in 1914 by John F. Schaefer and Claude E. Hart. They produced tire patches and –cement as well as tire repair kits.
📊 The Cooper name can be traced back to 1930 when I.J. Cooper’s Cooper Corporation merged with the M and M Company and The Falls Rubber company to form the Master Tire and Rubber Company. The latter’s name was changed to Cooper Tire & Rubber Company in 1946.
📊 The company operates globally and owns 60 manufacturing, sales, distribution, technical and design facilities within its portfolio of subsidiaries. Cooper Tire went public in 1960.
📊 The company’s slogan is: “The tire with two names… the company and the man who built it.” Today, Cooper Tire & Rubber Company employs more than 10 000 people across its operations.
HISTORY OF COOPER TIRE & RUBBER
- Cooper Tire & Rubber Company owns United Kingdom-bases Avon Tyres brand that manufactures tires for motorcycles, road vehicles and motor racing. The company’s oval trademark, sporting the Cooper Knight headgear, originated in 1941.
- During these early years, the logo also included a banner which proclaimed the tires’ “armored-cord” construction. This red, blue and white logo quickly became one of the most recognized emblems in the tire market.
- The company was known as Master Tire and Rubber during World War II. It produced pontoons, landing boats, waterproof bags, camouflage items, life jackets, inflatable barges and tank decoys, as well as tires for the Allied forces.
- The company received the Army-Navy ‘E’ Award for its stellar service during this time. By 1983, the company was added to the Fortune 500 list as one of the largest industrial company’s by revenue in the U.S.
- Cooper Tire’s largest growth acquisition happened in 1999 when it purchased The Standard Products Company, which increased its workforce by 10 000 employees. This deal included Standard Products subsidiaries, Oliver Rubber Company and Holm Industries Inc.
- These two companies manufactured tread rubber and equipment for the truck retread industry and seals for home and commercial refrigerators.
VISION & VALUES OF COOPER TIRE & RUBBER
- Cooper Tire & Rubber Company is guided by a strong set of values it calls “The Cooper Way”. Together with its philosophies and beliefs, these values form the basis for all its operations. They serve as basis for every business decision and shape the company culture.
- The company believes in open communication and encouragement to help other to learn and develop. By being agile and taking risks, Cooper stimulates creativity and innovation which, in turn, enable growth and add value for shareholders who purchase company shares.
- The company is results-focused and honors its commitments at all times.
MARKET PERFORMANCE OF COOPER TIRE & RUBBER
- Cooper Tire & Rubber Company trades on the New York Stock Exchange (NYSE) under the stock symbol “CTB”.
- The company is an S&P 600 component. For the second quarter of 2019, the company recorded net income of US$ 9 million or diluted earnings per share of $0.18. The company’s net sales increased 2.9% to US$ 679 million.
- Shareholders who want to buy or sell company shares can expect solid dividends and returns.