Koppers Holdings Inc. (KOP) Shares Up 3.2%
Koppers Holdings Inc. (NYSE:KOP) shot up 3.2% during trading on Thursday . The company traded as high as $32.92 and last traded at $32.91, with a volume of 74,001 shares trading hands. The stock had previously closed at $31.89.
A number of research firms have commented on KOP. Zacks Investment Research lowered Koppers Holdings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Wunderlich upped their price target on Koppers Holdings from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Jefferies Group reiterated a “buy” rating on shares of Koppers Holdings in a research report on Wednesday, July 6th. Barrington Research began coverage on Koppers Holdings in a research report on Wednesday, June 8th. They issued an “outperform” rating and a $39.00 price target on the stock. Finally, Monness Crespi & Hardt upped their price target on Koppers Holdings from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Koppers Holdings presently has a consensus rating of “Buy” and a consensus price target of $34.60.
The firm’s market cap is $670.83 million. The company’s 50 day moving average is $29.36 and its 200 day moving average is $22.54.
Koppers Holdings (NYSE:KOP) last posted its quarterly earnings data on Friday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.19. The business had revenue of $346.80 million for the quarter, compared to the consensus estimate of $364.50 million. During the same period in the prior year, the business posted $0.03 EPS. Koppers Holdings’s quarterly revenue was down 12.8% on a year-over-year basis. Equities research analysts forecast that Koppers Holdings Inc. will post $1.96 earnings per share for the current year.
In other Koppers Holdings news, VP Markus G. Spiess sold 4,551 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $25.16, for a total transaction of $114,503.16. Following the sale, the vice president now owns 21,807 shares in the company, valued at $548,664.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis L. Testoni purchased 4,100 shares of the stock in a transaction on Monday, May 23rd. The shares were purchased at an average price of $24.68 per share, for a total transaction of $101,188.00. Following the transaction, the director now directly owns 15,466 shares of the company’s stock, valued at $381,700.88. The disclosure for this purchase can be found here.
A number of large investors have recently added to or reduced their stakes in the stock. 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. Systematic Financial Management LP purchased a new stake in Koppers Holdings during the fourth quarter worth $1,628,000. 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. Finally, 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.
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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