Koppers Holdings Inc. (KOP) Hits New 52-Week High at $31.48
Shares of Koppers Holdings Inc. (NYSE:KOP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $31.48 and last traded at $31.31, with a volume of 46,084 shares. The stock had previously closed at $30.85.
A number of brokerages have issued reports on KOP. Zacks Investment Research raised Koppers Holdings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Wunderlich raised their target price on Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating on shares of Koppers Holdings in a research note on Wednesday, July 6th. Barrington Research began coverage on Koppers Holdings in a research note on Wednesday, June 8th. They issued an “outperform” rating and a $39.00 target price for the company. Finally, Monness Crespi & Hardt raised their target price on Koppers Holdings from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $34.60.
The firm has a 50-day moving average price of $28.30 and a 200-day moving average price of $22.09. The firm’s market capitalization is $647.94 million.
Koppers Holdings (NYSE:KOP) last posted its earnings results on Friday, May 6th. The company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.19. The firm had revenue of $346.80 million for the quarter, compared to analysts’ expectations of $364.50 million. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, equities analysts predict that Koppers Holdings Inc. will post $1.96 earnings per share for the current year.
In other news, Director Louis L. Testoni bought 4,100 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were bought at an average cost of $24.68 per share, for a total transaction of $101,188.00. Following the completion of the transaction, the director now owns 15,466 shares in the company, valued at $381,700.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Markus G. Spiess sold 4,551 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $25.16, for a total value of $114,503.16. Following the sale, the vice president now owns 21,807 shares in the company, valued at $548,664.12. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Koppers Holdings by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 656,675 shares of the company’s stock worth $11,984,000 after buying an additional 3,668 shares during the last quarter. Systematic Financial Management LP purchased a new stake in Koppers Holdings during the fourth quarter worth approximately $1,628,000. Comerica Bank increased its stake in Koppers Holdings by 60.3% in the fourth quarter. Comerica Bank now owns 60,678 shares of the company’s stock worth $1,001,000 after buying an additional 22,828 shares during the last quarter. California Public Employees Retirement System increased its stake in Koppers Holdings by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 114,000 shares of the company’s stock worth $2,081,000 after buying an additional 3,400 shares during the last quarter. Finally, Strs Ohio increased its stake in Koppers Holdings by 28.6% in the fourth quarter. Strs Ohio now owns 160,800 shares of the company’s stock worth $2,934,000 after buying an additional 35,800 shares during the last quarter.
Koppers Holdings Inc is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three business segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The Railroad and Utility Products and Services segment sells treated and untreated wood products, rail joint bars and services primarily to the railroad industry and treated wood products to the utility industry.
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