Towle Co buys $23.6 Million stake in Goodyear Tire & Rubber Co (GT)

Goodyear Tire & Rubber Co (GT) : Towle Co scooped up 20,595 additional shares in Goodyear Tire & Rubber Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 851,933 shares of Goodyear Tire & Rubber Co which is valued at $23.6 Million.Goodyear Tire & Rubber Co makes up approximately 4.48% of Towle Co’s portfolio.

Other Hedge Funds, Including , Menta Capital sold out all of its stake in GT during the most recent quarter. The investment firm sold 45,900 shares of GT which is valued $1.3 Million.First Trust Advisors Lp reduced its stake in GT by selling 421,854 shares or 25.72% in the most recent quarter. The Hedge Fund company now holds 1,218,578 shares of GT which is valued at $33.7 Million. Goodyear Tire & Rubber Co makes up approx 0.11% of First Trust Advisors Lp’s portfolio.New York State Common Retirement Fund boosted its stake in GT in the latest quarter, The investment management firm added 86,733 additional shares and now holds a total of 1,077,897 shares of Goodyear Tire & Rubber Co which is valued at $30.4 Million. Goodyear Tire & Rubber Co makes up approx 0.05% of New York State Common Retirement Fund’s portfolio.Diam Ltd. boosted its stake in GT in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 25,628 shares of Goodyear Tire & Rubber Co which is valued at $722,453. Goodyear Tire & Rubber Co makes up approx 0.01% of Diam Ltd.’s portfolio. Checchi Capital Advisers added GT to its portfolio by purchasing 1,759 company shares during the most recent quarter which is valued at $49,586. Goodyear Tire & Rubber Co makes up approx 0.01% of Checchi Capital Advisers’s portfolio.

Goodyear Tire & Rubber Co closed down -0.09 points or -0.33% at $27.56 with 39,45,642 shares getting traded on Monday. Post opening the session at $27.75, the shares hit an intraday low of $27.465 and an intraday high of $28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Goodyear Tire & Rubber Co reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $3691.00 million for the quarter, compared to analysts expectations of $3921.92 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Apr 7, 2016. Goodyear Tire & Rubber Co was Downgraded by Standpoint Research to ” Hold” on Mar 30, 2016.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development manufacture distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe Middle East and Africa (EMEA); Latin America and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles motorcycles trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear Dunlop Kelly Debica Sava and Fulda brands and various other Goodyear owned-house brands and the private-label brands of certain customers.

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