Principal Financial Group Inc. Trims Stock Position in Koppers Holdings Inc. (NYSE:KOP)

Principal Financial Group Inc. cut its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 18.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,603 shares of the specialty chemicals company’s stock after selling 83,301 shares during the quarter. Principal Financial Group Inc. owned about 1.78% of Koppers worth $13,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invenomic Capital Management LP purchased a new position in Koppers during the fourth quarter worth about $2,684,000. Russell Investments Group Ltd. lifted its position in Koppers by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 368,641 shares of the specialty chemicals company’s stock worth $11,480,000 after buying an additional 81,341 shares during the period. Victory Capital Management Inc. lifted its position in Koppers by 11.6% during the fourth quarter. Victory Capital Management Inc. now owns 45,996 shares of the specialty chemicals company’s stock worth $1,433,000 after buying an additional 4,764 shares during the period. Wells Fargo & Company MN lifted its position in Koppers by 2.4% during the fourth quarter. Wells Fargo & Company MN now owns 88,330 shares of the specialty chemicals company’s stock worth $2,752,000 after buying an additional 2,110 shares during the period. Finally, Federated Hermes Inc. lifted its position in Koppers by 0.4% during the fourth quarter. Federated Hermes Inc. now owns 339,959 shares of the specialty chemicals company’s stock worth $10,593,000 after buying an additional 1,378 shares during the period. Hedge funds and other institutional investors own 90.12% of the company’s stock.

A number of research firms have recently commented on KOP. Monness Crespi & Hardt raised their price objective on Koppers from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 10th. Barrington Research raised their price objective on Koppers from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 11th. TheStreet upgraded Koppers from a “c” rating to a “b-” rating in a report on Wednesday, May 5th. Compass Point raised their price objective on Koppers from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 10th. Finally, Zacks Investment Research downgraded Koppers from a “buy” rating to a “hold” rating in a report on Friday, May 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Koppers currently has a consensus rating of “Buy” and a consensus price target of $43.80.

Shares of NYSE:KOP opened at $33.22 on Friday. The stock has a market cap of $705.63 million, a P/E ratio of 4.77 and a beta of 2.01. The company has a current ratio of 2.28, a quick ratio of 1.18 and a debt-to-equity ratio of 2.10. Koppers Holdings Inc. has a one year low of $15.89 and a one year high of $39.44. The company’s 50-day moving average is $34.28.

Koppers (NYSE:KOP) last issued its quarterly earnings data on Friday, May 7th. The specialty chemicals company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.45. Koppers had a return on equity of 33.47% and a net margin of 8.91%. The firm had revenue of $407.50 million during the quarter, compared to analyst estimates of $407.90 million. During the same quarter last year, the firm earned $0.47 EPS. Koppers’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts expect that Koppers Holdings Inc. will post 4.47 EPS for the current year.

In other Koppers news, VP Daniel R. Groves sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $36.62, for a total transaction of $219,720.00. Following the completion of the sale, the vice president now owns 16,455 shares in the company, valued at approximately $602,582.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel R. Groves sold 17,211 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $35.26, for a total value of $606,859.86. 6.08% of the stock is owned by company insiders.

Koppers Company Profile

Koppers Holdings Inc provides treated wood products, wood treatment chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).

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Institutional Ownership by Quarter for Koppers (NYSE:KOP)

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