Koppers Holdings Inc. (KOP) Stake Lowered by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its holdings in Koppers Holdings Inc. (NYSE:KOP) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,771 shares of the specialty chemicals company’s stock after selling 10,105 shares during the period. Bank of New York Mellon Corp owned 1.27% of Koppers worth $12,173,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of KOP. Municipal Employees Retirement System of Michigan increased its stake in shares of Koppers by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,880 shares of the specialty chemicals company’s stock worth $176,000 after purchasing an additional 210 shares during the period. Victory Capital Management Inc. bought a new position in Koppers during the third quarter valued at about $195,000. Virtu KCG Holdings LLC bought a new position in Koppers during the second quarter valued at about $201,000. BlueCrest Capital Management Ltd bought a new position in Koppers during the second quarter valued at about $255,000. Finally, UBS Asset Management Americas Inc. increased its stake in Koppers by 8.5% during the second quarter. UBS Asset Management Americas Inc. now owns 7,700 shares of the specialty chemicals company’s stock valued at $278,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 89.26% of the company’s stock.
Koppers Holdings Inc. (NYSE KOP) opened at $50.35 on Friday. Koppers Holdings Inc. has a 12 month low of $33.90 and a 12 month high of $51.80. The company has a debt-to-equity ratio of 6.08, a quick ratio of 1.13 and a current ratio of 2.02. The stock has a market capitalization of $1,040.00, a PE ratio of 21.33, a P/E/G ratio of 0.76 and a beta of 1.01.
Koppers (NYSE:KOP) last released its quarterly earnings data on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.55. The company had revenue of $384.80 million for the quarter, compared to the consensus estimate of $363.00 million. Koppers had a return on equity of 119.06% and a net margin of 3.54%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. equities analysts anticipate that Koppers Holdings Inc. will post 3.75 EPS for the current fiscal year.
Several brokerages recently issued reports on KOP. Barrington Research restated an “outperform” rating and set a $55.00 price target on shares of Koppers in a research note on Thursday, September 14th. Zacks Investment Research lowered Koppers from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Jefferies Group restated a “hold” rating and set a $40.00 price target on shares of Koppers in a research note on Thursday, October 12th. Finally, B. Riley restated a “buy” rating and set a $65.00 price target on shares of Koppers in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $50.17.
In other Koppers news, VP Leslie S. Hyde sold 1,810 shares of Koppers stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $45.00, for a total transaction of $81,450.00. Following the sale, the vice president now directly owns 19,727 shares of the company’s stock, valued at $887,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by insiders.
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Koppers Holdings Inc is a global integrated provider of treated wood products, wood treatment chemicals and carbon compounds. The Company operates through three segments: Railroad and Utility Products and Services (RUPS), Carbon Materials and Chemicals (CMC) and Performance Chemicals (PC). The RUPS business sells treated and untreated wood products, rail joint bars and services primarily to the railroad markets.
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