Koppers Holdings Inc. (KOP) Trading 3.2% Higher
Koppers Holdings Inc. (NYSE:KOP) shares traded up 3.2% on Thursday . The stock traded as high as $32.92 and last traded at $32.91, with a volume of 74,001 shares. The stock had previously closed at $31.89.
Several research analysts recently weighed in on the company. Barrington Research assumed coverage on Koppers Holdings in a research report on Wednesday, June 8th. They issued an “outperform” rating and a $39.00 target price on the stock. Jefferies Group reiterated a “buy” rating on shares of Koppers Holdings in a report on Wednesday, July 6th. Zacks Investment Research upgraded Koppers Holdings from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Wunderlich increased their price target on Koppers Holdings from $32.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Finally, Monness Crespi & Hardt increased their price target on Koppers Holdings from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.60.
The firm’s 50 day moving average is $29.14 and its 200 day moving average is $22.44. The firm’s market capitalization is $680.94 million.
Koppers Holdings (NYSE:KOP) last announced its quarterly earnings data on Friday, May 6th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.19. The business earned $346.80 million during the quarter, compared to analyst estimates of $364.50 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts predict that Koppers Holdings Inc. will post $1.96 EPS for the current fiscal year.
In other Koppers Holdings news, Director Louis L. Testoni acquired 4,100 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average cost of $24.68 per share, for a total transaction of $101,188.00. Following the completion of the acquisition, the director now directly owns 15,466 shares of the company’s stock, valued at approximately $381,700.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert J. Neupaver acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was acquired at an average price of $23.80 per share, for a total transaction of $71,400.00. Following the completion of the acquisition, the director now directly owns 35,444 shares of the company’s stock, valued at $843,567.20. The disclosure for this purchase can be found here.
A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System increased 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 valued at $2,081,000 after buying an additional 3,400 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Koppers Holdings during the fourth quarter valued at approximately $1,628,000. Dimensional Fund Advisors LP increased 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 valued at $11,984,000 after buying an additional 3,668 shares during the last quarter. Finally, Comerica Bank increased 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 valued at $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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