Marcato Capital Management Lp buys $144,404,376 stake in Goodyear Tire & Rubber Co (GT)

Goodyear Tire & Rubber Co (GT) : Marcato Capital Management Lp scooped up 54,277 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 Aug 15, 2016. The investment management firm now holds a total of 4,928,477 shares of Goodyear Tire & Rubber Co which is valued at $144,404,376.Goodyear Tire & Rubber Co makes up approximately 10.38% of Marcato Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Afam Capital boosted its stake in GT in the latest quarter, The investment management firm added 103 additional shares and now holds a total of 213,610 shares of Goodyear Tire & Rubber Co which is valued at $6,258,773. Goodyear Tire & Rubber Co makes up approx 0.98% of Afam Capital’s portfolio.Twin Capital Management Inc reduced its stake in GT by selling 250 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 87,770 shares of GT which is valued at $2,591,848. Goodyear Tire & Rubber Co makes up approx 0.19% of Twin Capital Management Inc’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in GT by selling 34,176 shares or 46.28% in the most recent quarter. The Hedge Fund company now holds 39,668 shares of GT which is valued at $1,107,531. Goodyear Tire & Rubber Co makes up approx 0.03% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Huntington National Bank boosted its stake in GT in the latest quarter, The investment management firm added 331 additional shares and now holds a total of 7,434 shares of Goodyear Tire & Rubber Co which is valued at $216,255. Goodyear Tire & Rubber Co makes up approx 0.01% of Huntington National Bank’s portfolio.

Goodyear Tire & Rubber Co closed down -0.15 points or -0.51% at $29.2 with 32,84,334 shares getting traded on Thursday. Post opening the session at $29.36, the shares hit an intraday low of $29.01 and an intraday high of $29.715 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Goodyear Tire & Rubber Co reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.02. The company had revenue of $3879.00 million for the quarter, compared to analysts expectations of $3921.47 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Upgraded by Standpoint Research to ” Buy” on May 20, 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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