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What: Shares of tire maker Cooper Tire & Rubber
So what: Fourth-quarter sales rose to $1.05 billion, driven by 16% growth in North American tire sales. Analysts had expected $1.02 billion in sales. Adjusted earnings per share was $0.51, easily topping estimates of $0.39 per share from analysts.
Now what: According to management the ultra-high performance, light truck, and SUV markets drove stronger results in North America. Internationally, higher prices helped make up for lower demand. I'm a little worried about the lower volumes, but the company's forward P/E ratio of 10, and 2.7% dividend yield, is still attractive right now.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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