BlackRock Inc. raised its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 32,452.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Koppers Holdings during the fourth quarter worth approximately $928,000. State Street Corp increased its position in shares of Koppers Holdings by 4.7% in the fourth quarter. State Street Corp now owns 535,883 shares of the specialty chemicals company’s stock worth $21,593,000 after buying an additional 23,884 shares during the period. Envestnet Asset Management Inc. increased 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. Norges Bank purchased a new position in shares of Koppers Holdings during the fourth quarter worth approximately $7,154,000. Finally, Teachers Advisors LLC increased its position in shares of Koppers Holdings by 473.0% in the fourth quarter. Teachers Advisors LLC now owns 184,124 shares of the specialty chemicals company’s stock worth $7,420,000 after buying an additional 151,992 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.
Koppers Holdings Inc. (KOP) opened at 38.05 on Friday. The firm has a market cap of $789.35 million, a PE ratio of 19.37 and a beta of 0.97. Koppers Holdings Inc. has a 52-week low of $28.54 and a 52-week high of $45.85. The company’s 50 day moving average price is $37.41 and its 200 day moving average price is $39.48.
Koppers Holdings (NYSE:KOP) last posted its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.26. Koppers Holdings had a return on equity of 153.51% and a net margin of 3.02%. The business had revenue of $378 million during the quarter, compared to analysts’ expectations of $369 million. During the same quarter last year, the company posted $0.93 earnings per share. Koppers Holdings’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Koppers Holdings Inc. will post $3.24 earnings per share for the current fiscal year.
A number of research analysts have commented on KOP shares. Zacks Investment Research upgraded Koppers Holdings from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, May 3rd. Barrington Research boosted their price target on Koppers Holdings from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Jefferies Group LLC cut Koppers Holdings from a “buy” rating to a “hold” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Wednesday, May 31st. ValuEngine raised Koppers Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 1st. Finally, Wunderlich raised Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $45.40.
In related news, SVP Thomas D. Loadman sold 3,000 shares of Koppers Holdings stock in a transaction dated Wednesday, June 7th. The stock was 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 owns 35,927 shares in the company, valued at $1,257,804.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
Koppers Holdings Company Profile
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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