Koppers Holdings Inc. (KOP) Stake Reduced by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in Koppers Holdings Inc. (NYSE:KOP) by 24.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 233,827 shares of the company’s stock after selling 76,593 shares during the period. Bank of New York Mellon Corp owned 1.13% of Koppers Holdings worth $7,185,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of KOP. BNP Paribas Arbitrage SA boosted its stake in Koppers Holdings by 127.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,438 shares of the company’s stock valued at $198,000 after buying an additional 3,606 shares during the period. Springbok Capital Management LLC boosted its stake in Koppers Holdings by 1.9% in the first quarter. Springbok Capital Management LLC now owns 10,700 shares of the company’s stock valued at $240,000 after buying an additional 200 shares during the period. Acrospire Investment Management LLC acquired a new stake in Koppers Holdings during the first quarter valued at about $251,000. Barclays PLC boosted its stake in Koppers Holdings by 16,154.1% in the first quarter. Barclays PLC now owns 13,816 shares of the company’s stock valued at $304,000 after buying an additional 13,731 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Koppers Holdings by 6.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 11,281 shares of the company’s stock valued at $347,000 after buying an additional 710 shares during the period. 88.82% of the stock is owned by institutional investors.
Shares of Koppers Holdings Inc. (NYSE:KOP) traded up 0.20% during midday trading on Tuesday, hitting $30.60. The stock had a trading volume of 73,634 shares. The stock has a 50-day moving average price of $31.78 and a 200-day moving average price of $27.44. Koppers Holdings Inc. has a 12-month low of $13.58 and a 12-month high of $33.71. The stock’s market cap is $631.95 million.
Koppers Holdings (NYSE:KOP) last posted its earnings results on Thursday, August 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. Koppers Holdings had a positive return on equity of 251.65% and a negative net margin of 4.37%. The firm had revenue of $385.10 million for the quarter, compared to analyst estimates of $395.95 million. During the same quarter in the prior year, the company earned $0.68 EPS. Koppers Holdings’s revenue was down 10.8% on a year-over-year basis. Equities analysts forecast that Koppers Holdings Inc. will post $2.14 earnings per share for the current year.
Several research firms have issued reports on KOP. Barrington Research began coverage on Koppers Holdings in a research note on Wednesday, June 8th. They set an “outperform” rating and a $39.00 target price for the company. Jefferies Group reaffirmed a “buy” rating on shares of Koppers Holdings in a research note on Wednesday, July 6th. Zacks Investment Research raised Koppers Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research note on Saturday, August 6th. Wunderlich lifted their price objective on Koppers Holdings from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, June 30th. Finally, Monness Crespi & Hardt cut Koppers Holdings from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Koppers Holdings presently has a consensus rating of “Buy” and an average target price of $37.00.
In related news, VP Leslie S. Hyde sold 2,850 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.48, for a total value of $92,568.00. Following the sale, the vice president now owns 25,432 shares of the company’s stock, valued at approximately $826,031.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Steven R. Lacy sold 6,670 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $32.76, for a total value of $218,509.20. Following the completion of the sale, the vice president now directly owns 57,788 shares in the company, valued at approximately $1,893,134.88. The disclosure for this sale can be found here. 4.69% of the stock is owned by corporate insiders.
About Koppers Holdings
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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