BlackRock Inc. increased its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 32,452.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,529,668 shares of the specialty chemicals company’s stock after buying an additional 2,521,897 shares during the period. BlackRock Inc. owned about 12.24% of Koppers Holdings worth $107,130,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KOP. US Bancorp DE raised its position in Koppers Holdings by 111.7% in the first quarter. US Bancorp DE now owns 2,532 shares of the specialty chemicals company’s stock worth $107,000 after buying an additional 1,336 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Koppers Holdings during the first quarter worth about $112,000. Envestnet Asset Management Inc. raised its position in shares of Koppers Holdings by 24.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,884 shares of the specialty chemicals company’s stock worth $116,000 after buying an additional 570 shares during the period. Mason Street Advisors LLC raised its position in shares of Koppers Holdings by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,832 shares of the specialty chemicals company’s stock worth $205,000 after buying an additional 317 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Koppers Holdings by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,104 shares of the specialty chemicals company’s stock worth $216,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 90.18% of the company’s stock.
Shares of Koppers Holdings Inc. (KOP) traded down 1.15% on Friday, reaching $38.75. The company’s stock had a trading volume of 76,298 shares. The stock has a market cap of $803.87 million, a PE ratio of 19.73 and a beta of 0.97. Koppers Holdings Inc. has a 1-year low of $28.54 and a 1-year high of $45.85. The company’s 50 day moving average is $36.93 and its 200-day moving average is $39.60.
Koppers Holdings (NYSE:KOP) last released its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.26. The company had revenue of $378 million for the quarter, compared to analysts’ expectations of $369 million. Koppers Holdings had a net margin of 3.02% and a return on equity of 153.51%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, equities analysts predict that Koppers Holdings Inc. will post $3.24 earnings per share for the current fiscal year.
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Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday. TheStreet upgraded Koppers Holdings from a “c” rating to a “b-” rating in a report on Thursday, August 3rd. Jefferies Group LLC lowered Koppers Holdings from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $40.00 in a report on Wednesday, May 31st. Barrington Research boosted their target price on Koppers Holdings from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $44.00 target price on shares of Koppers Holdings in a research report on Tuesday, July 11th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $45.40.
In related news, SVP Thomas D. Loadman sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $38.92, for a total value of $389,200.00. Following the transaction, the senior vice president now owns 48,927 shares of the company’s stock, valued at approximately $1,904,238.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Thomas D. Loadman sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $35.01, for a total transaction of $105,030.00. Following the completion of the transaction, the senior vice president now directly owns 35,927 shares in the company, valued at approximately $1,257,804.27. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
About Koppers Holdings
Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
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