Koppers Holdings Inc. (KOP) Sees Unusually-High Trading Volume
Koppers Holdings Inc. (NYSE:KOP) saw an uptick in trading volume on Wednesday . 169,803 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 158,265 shares.The stock last traded at $31.70 and had previously closed at $32.29.
KOP has been the subject of a number of recent research reports. Zacks Investment Research downgraded Koppers Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Group reaffirmed a “buy” rating on shares of Koppers Holdings in a research note on Wednesday, July 6th. Wunderlich raised their price target on Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Barrington Research initiated coverage on Koppers Holdings in a research note on Wednesday, June 8th. They set an “outperform” rating and a $39.00 price target for the company. Finally, Monness Crespi & Hardt raised their price target on Koppers Holdings from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.60.
The company’s market cap is $657.64 million. The firm’s 50-day moving average price is $28.94 and its 200 day moving average price is $22.37.
Koppers Holdings (NYSE:KOP) last announced its quarterly earnings data on Friday, May 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. The company had revenue of $346.80 million for the quarter, compared to analyst estimates of $364.50 million. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. On average, analysts predict that Koppers Holdings Inc. will post $1.96 earnings per share for the current fiscal year.
In other Koppers Holdings news, VP Markus G. Spiess sold 4,551 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $25.16, for a total value of $114,503.16. Following the completion of the transaction, the vice president now directly owns 21,807 shares of the company’s stock, valued at $548,664.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Albert J. Neupaver bought 3,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was acquired 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 approximately $843,567.20. The disclosure for this purchase can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position 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 acquired a new position in Koppers Holdings during the fourth quarter worth about $1,628,000. Comerica Bank boosted its position 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. Finally, California Public Employees Retirement System boosted its position 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.
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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