Geode Capital Management LLC increased its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,246 shares of the specialty chemicals company’s stock after buying an additional 3,821 shares during the period. Geode Capital Management LLC owned 0.74% of Koppers Holdings worth $6,447,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Koppers Holdings during the fourth quarter worth $7,154,000. 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 last quarter. Highbridge Capital Management LLC bought a new position in shares of Koppers Holdings during the fourth quarter worth $594,000. Bank of Montreal Can increased its position in shares of Koppers Holdings by 7.6% in the first quarter. Bank of Montreal Can now owns 73,132 shares of the specialty chemicals company’s stock worth $3,097,000 after buying an additional 5,165 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Koppers Holdings by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the specialty chemicals company’s stock worth $356,000 after buying an additional 100 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors and hedge funds.
Koppers Holdings Inc. (KOP) opened at 38.05 on Friday. The company has a market capitalization of $789.35 million, a P/E ratio of 19.37 and a beta of 0.97. The firm has a 50-day moving average price of $37.41 and a 200 day moving average price of $39.48. Koppers Holdings Inc. has a 12 month low of $28.54 and a 12 month high of $45.85.
Koppers Holdings (NYSE:KOP) last announced its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.18 earnings per share 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 analyst estimates of $369 million. Koppers Holdings had a return on equity of 153.51% and a net margin of 3.02%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Analysts expect that Koppers Holdings Inc. will post $3.24 EPS for the current year.
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A number of research analysts recently weighed in on KOP shares. Zacks Investment Research raised Koppers Holdings from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Wednesday, May 3rd. Barrington Research raised their price objective on Koppers Holdings from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. Jefferies Group LLC downgraded 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 research note on Wednesday, May 31st. ValuEngine raised Koppers Holdings from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 1st. Finally, Wunderlich raised Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday, June 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.40.
In other news, SVP Thomas D. Loadman sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $35.01, for a total transaction of $105,030.00. Following the transaction, the senior vice president now owns 35,927 shares in the company, valued at $1,257,804.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.
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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