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CPS Cooper-Standard

Cooper Standard, headquartered in Northville, Mich., is a leading global supplier of systems and components in diverse transportation and industrial markets. Products include sealing, fuel and brake delivery and fluid transfer systems. Cooper Standard employs approximately 25,000 people globally and operates in 21 countries around the world.

Company profile

Ticker
CPS
Exchange
CEO
Jeffrey Edwards
Employees
Incorporated
Location
Fiscal year end
Former names
CSA Acquisition Corp.
SEC CIK
Subsidiaries
Cooper-Standard Automotive (Australia) Pty. Ltd. • CSA (Barbados) Investment Co. Ltd. • Cooper-Standard Automotive Brasil Sealing Ltda. • Itatiaia Standard Industrial Ltda. • Cooper-Standard Automotive Canada Limited • Cooper (Wuhu) Automotive Co., Ltd. • Cooper Standard (Shandong) Automotive Parts Co., Ltd. • Cooper Standard Automotive (Changchun) Co., Ltd. • Cooper Standard Automotive (Kunshan) Co., Ltd. • Cooper Standard Automotive (Suzhou) Co., Ltd. ...
IRS number
201945088

CPS stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 346.16M 346.16M 346.16M 346.16M 346.16M 346.16M
Cash burn (monthly) 20.24M 3.72M 27.33M 10.83M 17.88M (positive/no burn)
Cash used (since last report) 74.96M 13.77M 101.22M 40.12M 66.23M n/a
Cash remaining 271.2M 332.39M 244.95M 306.04M 279.93M n/a
Runway (months of cash) 13.4 89.4 9.0 28.2 15.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Sep 21 Somasundhar Venkatasubramanian RSU Common stock Grant Acquire A No No 0 5,027 0 5,027
20 Sep 21 Somasundhar Venkatasubramanian Employee stock options Common stock Grant Acquire A No No 22.38 10,505 235.1K 10,505
13 Sep 21 Rebecca McCabe RSU Common stock Grant Acquire A No No 0 437 0 437
13 Sep 21 Rebecca McCabe Employee stock options Common stock Grant Acquire A No No 22.9 913 20.91K 913
12 Aug 21 Van Oss Stephen A Common stock Buy Acquire P No No 23.79 10,000 237.9K 37,846
11 Aug 21 Van Oss Stephen A Common stock Buy Acquire P No No 24.4 2,664 65K 27,846
11 Aug 21 Van Oss Stephen A Common stock Buy Acquire P No No 23.93 7,336 175.55K 25,182

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

97.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 114 116 -1.7%
Opened positions 15 14 +7.1%
Closed positions 17 14 +21.4%
Increased positions 33 30 +10.0%
Reduced positions 44 56 -21.4%
13F shares
Current Prev Q Change
Total value 480.25M 915.51M -47.5%
Total shares 16.56M 16.31M +1.5%
Total puts 26.2K 58K -54.8%
Total calls 55.8K 2.7K +1966.7%
Total put/call ratio 0.5 21.5 -97.8%
Largest owners
Shares Value Change
BLK Blackrock 3.01M $87.4M +0.9%
Thrivent Financial For Lutherans 1.81M $52.53M +3.3%
FMR 1.66M $48.26M +11.9%
Fuller & Thaler Asset Management 1.33M $38.57M -1.1%
Vanguard 1.1M $31.82M +1.0%
Dimensional Fund Advisors 941.98K $27.32M -4.3%
ArrowMark Colorado 770.84K $22.35M -10.2%
STT State Street 555.26K $16.1M +2.2%
Charles Schwab Investment Management 481.19K $13.96M -14.6%
D. E. Shaw & Co. 295.61K $8.57M -3.8%
Largest transactions
Shares Bought/sold Change
Boundary Creek Advisors 194.8K +194.8K NEW
FMR 1.66M +177.34K +11.9%
MS Morgan Stanley 238.46K +143.48K +151.1%
Pacific Ridge Capital Partners 92.3K +92.3K NEW
ArrowMark Colorado 770.84K -87.92K -10.2%
Charles Schwab Investment Management 481.19K -82.47K -14.6%
Divisar Capital Management 253.07K -80K -24.0%
UBS UBS Group AG - Registered Shares 194.89K +67.15K +52.6%
DB Deutsche Bank AG - Registered Shares 86.93K +62.52K +256.1%
Thrivent Financial For Lutherans 1.81M +58.06K +3.3%

Financial report summary

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Competition
Bridgestone
Risks
  • Our financial condition and results of operations have been, and are expected to continue to be, adversely affected by the recent COVID-19 outbreak.
  • A disruption in, or the inability to successfully implement upgrades to, our information technology systems, including disruptions relating to cybersecurity as well as data privacy concerns, could adversely affect our business and financial performance.
  • Disruptions in the supply chain could have an adverse effect on our business, financial condition, results of operations and cash flows.
  • Increases in the costs, or reduced availability, of raw materials and manufactured components may adversely affect our profitability.
  • Our inability to effectively manage the timing, quality and costs of new program launches could adversely affect our financial performance.
  • Our success depends in part on our development of improved products, and our efforts may fail to meet the needs of customers on a timely or cost-effective basis.
  • We may incur material losses and costs as a result of product liability and warranty and recall claims that may be brought against us.
  • Work stoppages or similar difficulties could disrupt our operations and negatively affect our operations and financial performance.
  • Our commitment to drive value through culture, innovation and results is dependent on our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce.
  • We are highly dependent on the automotive industry. A prolonged or material contraction in automotive sales and production volumes could adversely affect our business, results of operations and financial condition.
  • We may not realize sales represented by awarded business, which could adversely affect our business, financial condition, results of operations and cash flows.
  • Escalating pricing pressures may adversely affect our business.
  • Our business could be adversely affected if we lose any of our largest customers or significant platforms.
  • We operate in a highly competitive industry and efforts by our competitors to gain market share could adversely affect our financial performance.
  • The benefits of our continuous improvement program and other cost savings plans may not be fully realized.
  • We are subject to other risks associated with our international operations.
  • We may continue to incur significant costs related to manufacturing facility closings or consolidation which could have an adverse effect on our financial condition.
  • A portion of our operations are conducted by joint ventures which have unique risks.
  • Any acquisitions or divestitures we make may be unsuccessful, may take longer than anticipated or may negatively impact our business, financial condition, results of operations and cash flows.
  • Failure to maintain effective controls and procedures could adversely impact our business, financial condition and results of operations.
  • Impairment charges relating to our goodwill, long-lived assets or intangible assets could adversely affect our results of operations.
  • We have a substantial amount of indebtedness, which could have a material adverse effect on our financial condition and our ability to obtain financing in the future and to react to changes in our business.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our indebtedness service obligations to increase significantly.
  • Our debt instruments impose significant operating and financial restrictions on us and our subsidiaries.
  • Our expected annual effective tax rate and cash tax liability could be volatile and could materially change as a result of changes in many items including mix of earnings, debt and capital structure and other factors.
  • Our pension plans are currently underfunded, and we may have to make cash contributions to the plans, reducing the cash available for our business.
  • Our working capital requirements may negatively affect our liquidity and capital resources.
  • Significant changes in discount rates, the actual return on pension assets and other factors could adversely affect our liquidity, results of operations and financial condition.
  • We operate as a holding company and depend on our subsidiaries for cash to satisfy the obligations of the holding company.
  • We may not be able to procure insurance at reasonable rates to fully meet our needs.
  • The COVID-19 pandemic risk presents significant risks to our liquidity.
  • We are involved from time to time in legal and regulatory proceedings, claims or investigations which could have an adverse impact on our results of operations and financial condition.
  • If we are unable to protect our intellectual property or if a third party challenges our intellectual property rights, our business could be adversely affected.
  • We may be adversely affected by laws and regulations, including environmental, health and safety laws and regulations.
Management Discussion
  • Sales for the three months ended June 30, 2021 increased 56.6%, compared to the three months ended June 30, 2020. The increase in sales was driven by vehicle production volume increases due to non-recurrence of lengthy shutdowns in the prior year from COVID-19, offset in part by the impact of semiconductor supply issues in the current year. Foreign exchange also contributed to the increase in sales, partially offset by the prior year divestiture of our European rubber fluid transfer and specialty sealing businesses and Indian operations.
  • Cost of products sold is primarily comprised of material, labor, manufacturing overhead, freight, depreciation, warranty costs and other direct operating expenses. The Company’s material cost of products sold was approximately 45% and 39% of total cost of products sold for the three months ended June 30, 2021 and 2020, respectively. The change in the cost of products sold was impacted by vehicle volume and mix, the prior year divestiture of our European rubber fluid transfer and specialty sealing businesses and Indian operations, continuous improvement and lean manufacturing, net commodity price fluctuations, foreign exchange and wage inflation.
  • Gross loss for the three months ended June 30, 2021 decreased $59.4 million or 98.5% compared to the three months ended June 30, 2020. The change was driven by volume and mix, net favorable operational performance, lower variable employee compensation expenses, purchasing lean savings, restructuring savings, the prior year divestiture of our European rubber fluid transfer and specialty sealing businesses and Indian operations. These items were partially offset by commodity and wage inflation and the non-recurrence of prior year COVID-19 government incentives.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: broadly, deductible, infection, lengthy, moderate, peak, professional, rose, showing, stable, variant, widespread
Removed: aggressive, April, assessment, ASU, decline, deemed, IMF, January, machinery, monetary, outflow, recent, removing, strong, Topic, travel

Patents

GRANT
Utility
Sealing arrangement for a motor vehicle window, composite seal, and method for producing a composite seal
14 Sep 21
A seal arrangement for sealing a corner region of a window against a vehicle body component of a motor vehicle.
GRANT
Utility
Glass run channel assembly and method for forming a glass run channel assembly
13 Apr 21
A joint assembly comprising at least one extruded profile member and at least one molded member connected to the profile member by an injection molding process.
GRANT
Utility
Profile strip for a motor vehicle and profile strip production method
16 Mar 21
A profile strip for a motor vehicle, in particular for a sealing assembly in a window or door area of a motor vehicle.
GRANT
Utility
Vehicle silencer
26 Jan 21
The present invention relates to a vehicle silencer comprising: a first case provided in a vehicle; a second case coupled to the first case; a resonant chamber positioned between the first case and the second case; and a passing hole formed by penetrating the second case, such that the inside of the second case and the resonant chamber communicate with each other therethrough, wherein the second case includes a first passing member formed such that the thickness thereof gradually decreases toward a first direction.
GRANT
Utility
Method of manufacturing a material strand
12 Jan 21
A method of manufacturing a material strand (100), particularly for sealing, trimming or fastening of doors (11) or windows (12) of a motor vehicle (10), comprises the steps of: a) extrusion of an extruded strand (200); b) testing the extruded strand (200) after the extrusion, thereby identifying first segments (210) comprising manufacturing defects (211) and second segments (220) being free from manufacturing detects; c) cutting out the first segments (210) from the extruded strand (200), thereby causing faces (222) at the second segments (220); d) joining cut faces (222) of second segments (220) to obtain a joint (102) and to form a material strand (100), the joint (102) having a position within the material strand (100), wherein a minimum distance (Δd) is maintained between the positions of adjacent joints (102); e) identifying the position of each joint (102); and f) forming a transport unit (110) having a predetermined maximum length by winding the material strand (100).