Ironwood Investment Management LLC reduced its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 65,121 shares of the specialty chemicals company’s stock after selling 5,000 shares during the quarter. Koppers makes up approximately 2.4% of Ironwood Investment Management LLC’s portfolio, making the stock its 3rd biggest position. Ironwood Investment Management LLC’s holdings in Koppers were worth $3,315,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Koppers during the 4th quarter valued at $141,000. Macquarie Group Ltd. bought a new stake in shares of Koppers during the 3rd quarter valued at $166,000. Victory Capital Management Inc. bought a new stake in shares of Koppers during the 3rd quarter valued at $195,000. Virtu KCG Holdings LLC bought a new stake in shares of Koppers during the 2nd quarter valued at $201,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Koppers during the 3rd quarter valued at $209,000. 88.81% of the stock is currently owned by institutional investors and hedge funds.
KOP has been the topic of a number of research reports. B. Riley restated a “buy” rating and set a $65.00 target price on shares of Koppers in a report on Tuesday, December 19th. Zacks Investment Research cut shares of Koppers from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Jefferies Group restated a “hold” rating and set a $40.00 target price on shares of Koppers in a report on Thursday, October 12th. Finally, ValuEngine cut shares of Koppers from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $50.17.
Koppers (NYSE:KOP) last announced its quarterly earnings results on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.55. The company had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $363.00 million. Koppers had a net margin of 3.54% and a return on equity of 119.06%. Koppers’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. analysts expect that Koppers Holdings Inc. will post 3.73 earnings per share for the current year.
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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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