Koppers Holdings Inc. (KOP) Reaches New 12-Month High at $31.48
Koppers Holdings Inc. (NYSE:KOP) shares reached a new 52-week high during trading on Monday . The company traded as high as $31.48 and last traded at $31.31, with a volume of 46,084 shares changing hands. The stock had previously closed at $30.85.
A number of research analysts have recently commented on KOP shares. Jefferies Group restated a “buy” rating on shares of Koppers Holdings in a research report on Wednesday, July 6th. Wunderlich lifted their price objective on shares of Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. Zacks Investment Research raised shares of Koppers Holdings from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, May 12th. Monness Crespi & Hardt lifted their price objective on shares of Koppers Holdings from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 9th. Finally, Barrington Research started coverage on shares of Koppers Holdings in a report on Wednesday, June 8th. They set an “outperform” rating and a $39.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Koppers Holdings presently has an average rating of “Buy” and an average target price of $34.60.
The firm’s market capitalization is $665.88 million. The firm has a 50 day moving average of $28.73 and a 200-day moving average of $22.30.
Koppers Holdings (NYSE:KOP) last released its quarterly earnings results on Friday, May 6th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.19. During the same quarter in the previous year, the business posted $0.03 earnings per share. The business earned $346.80 million during the quarter, compared to the consensus estimate of $364.50 million. The firm’s revenue was down 12.8% on a year-over-year basis. On average, analysts anticipate that Koppers Holdings Inc. will post $1.96 EPS for the current fiscal year.
In other news, VP Markus G. Spiess sold 4,551 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $25.16, for a total value of $114,503.16. Following the completion of the sale, the vice president now directly owns 21,807 shares of the company’s stock, valued at $548,664.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert J. Neupaver acquired 3,000 shares of Koppers Holdings stock in a transaction dated Thursday, May 19th. The stock was purchased at an average cost of $23.80 per share, with a total value of $71,400.00. Following the completion of the purchase, the director now owns 35,444 shares of the company’s stock, valued at $843,567.20. The disclosure for this purchase can be found here.
Several hedge funds have recently made changes to their positions in KOP. Comerica Bank boosted its stake in shares of 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 period. Systematic Financial Management LP purchased a new stake in shares of Koppers Holdings during the fourth quarter worth about $1,628,000. California Public Employees Retirement System boosted its stake in shares of 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of 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 period.
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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