Insider Buying Reaches a 10-Year High

A quick look at the activity of insiders in the last 30 days gives reason to believe that company executives are betting on the respective companies they represent like never before. This could be an indication of the equity market performance in the coming years. The subject of this analysis is to interpret the current trend of insider buying and selling using empirical evidence.

 

Read the source article at Value Investing

Camfin raising stake in Pirelli

curata__Ip5pFLVyfZSh2QJ.jpeg

Milan, Italy – Pirelli shareholder Camfin is looking to raise its stake in the Italian tire maker, which has seen its share-price fall by more than 30% over the last three months.

Camfin board of directors authorised, on 20 March, the acquisition of shares up to a maximum of 1.5% of Pirelli’s share capital, by the end of July.

Pirelli’s shares hit an all-time low of €3.50 on 9 March in Milan as global stock markets grappled with the outbreak of Covid-19.

Read the source article at European Rubber Journal

Hankook board OKs stock buyback, dividend boost

SEOUL, South Korea—Hankook Tire & Technology Co. Ltd.’s board of directors has authorized a plan to buy back up to $43 million of the company’s stock and boost the stock dividend in an effort to enhance shareholder value.

Read the source article at Rubber and Plastics News

Cooper Tire: 4Q Earnings Snapshot

FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Monday reported fourth-quarter net income of $51.3 million, after reporting a loss in the same period a year earlier. The Findlay, Ohio-based company said it had net income of $1.02 per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

Read the source article at Yahoo News Phillipines

Goodyear shares tumble as company reports net loss

Akron, Ohio — Goodyear reported double-digit drops in operating income and net losses for the quarter and fiscal year ended 31 Dec 2019, due to higher operating costs, one-time restructuring charges and tax “adjustments.”

Sales revenue was off for both periods as well, dropping 4.2% in the quarter to $3.71 billion (€3.4 billion) and 4.7% for the full year to $14.7 billion.

Read the source article at European Rubber Journal

Natural Resources Lifted By Trade, Growth Optimism

curata__nUCVWCfDkeRcIcF.png

Commodities and natural resource equities faced a number of headwinds leading up to October as fears around slowing growth in China and a strong U.S. dollar created less than ideal conditions for the space. As the quarter progressed, these were joined by concerns around Brexit […]

Read the source article at Global Rubber Markets News

Michelin cancels treasury shares

Michelin – Compagnie Générale des Etablissements Michelin, to use the company’s full name – has decided to cancel 1,345,821 treasury shares, representing 0.75 per cent of the total shares outstanding. As indicated in a Euronext notice last week, the effective date of the resulting capital reduction is 9 December 2019.

Read the source article at Tyrepress

Toyo Tire Corp. Sells Portion of its Stock in Bridgestone

Toyo Tire Corp.’s President and CEO Takashi Shimizu and its Board of Directors resolved to sell a portion of its stock holdings in Bridgestone

Corporation, with whom Toyo Tire maintains business and capital

alliances.

The company will sell 50% of its holdings of over 3 million shares worth 4,000 million yen on the Tokyo Stock Exchange. The sale is expected to be completed by Feb. 29, 2020.

Under a 2008 framework of business and capital alliances, Toyo

Read the source article at Tire Review

Carbon Black Inc (CBLK) President & Ceo Patrick Morley Sold $1.5 million of Shares

President & CEO of Carbon Black Inc (30-Year Financial, Insider Trades) Patrick Morley (insider trades) sold 79,380 shares of CBLK on 07/26/2019 at an average price of $19 a share. The total sale was $1.5 million.

Carbon Black Inc has a market cap of $1.36 billion; its shares were traded at around $19.00 with and P/S ratio of 5.31.

Read the source article at Value Investing

Cabot Corp Reports Second Quarter Fiscal 2019 Results

BOSTON–(BUSINESS WIRE)–May 6, 2019– Cabot Corporation (NYSE: CBT) today announced results for its second quarter of fiscal year 2019.

Key Highlights

  • Positive impact from calendar year 2019 tire customer agreements more than offset by pricing weakness in China in Reinforcement Materials
  • Performance Chemicals impacted by soft automotive demand and a less favorable product mix
  • Announced agreement to divest Specialty Fluids segment in transaction valued at $135 million
  • Continued commitment to return cash to shareholders with $70 million of dividends and share repurchases in the quarter

Read the source article at Markets data