Dimensional Fund Advisors Reports 5.2% Goodyear Stake, Certifies It Has No Control Aim
Its 13G filing lists 15,062,847 shares held through funds, with an event date of September 30.
Dimensional Fund Advisors LP reported in a passive ownership filing that it holds 15,062,847 Goodyear shares, or 5.2% of the common stock. The Austin-based asset manager certified the shares were bought in the ordinary course and not to influence control of the tire maker.
What the Schedule 13G says
The filing, a Schedule 13G, gives September 30 as the event date. Dimensional reports sole voting power over 14,757,211 shares and no shared voting power.
In the certification, Dimensional said that, to the best of its knowledge and belief, the securities were not acquired and are not held to change or influence control of Goodyear, or in connection with any transaction with that purpose.
Goodyear shares traded at $4.77 in Thursday trading, as of 2:39 p.m. ET, up 1.71% from the prior close of $4.69, according to market data. The company's market value was $1.4 billion.
Who actually owns the shares
Dimensional says it advises four registered investment companies and manages other commingled funds, group trusts and separate accounts, which the filing calls the "Funds." All reported securities are owned by those Funds, and Dimensional disclaims beneficial ownership of them.
The filing adds that, to Dimensional's knowledge, no single Fund's interest exceeds 5% of the class.
Goodyear's own recent message to investors came on its earnings call, where CEO Mark Stewart described the "stabilization" at the company as the result of his team's focus and execution, according to a call transcript.
Dimensional's address of record in the filing is 6300 Bee Cave Road in Austin; Goodyear's is 200 Innovation Way in Akron, Ohio.
