OppenheimerFunds Inc. cut its position in Koppers Holdings Inc. (NYSE:KOP) by 19.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,890 shares of the specialty chemicals company’s stock after selling 4,784 shares during the quarter. OppenheimerFunds Inc. owned 0.10% of Koppers worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in KOP. BlackRock Inc. boosted its stake in Koppers by 10.3% during the 4th quarter. BlackRock Inc. now owns 2,831,311 shares of the specialty chemicals company’s stock valued at $144,115,000 after acquiring an additional 265,470 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Koppers during the 4th quarter valued at $6,109,000. Wells Fargo & Company MN boosted its stake in Koppers by 109.9% during the 4th quarter. Wells Fargo & Company MN now owns 118,603 shares of the specialty chemicals company’s stock valued at $6,038,000 after acquiring an additional 62,104 shares during the last quarter. State Street Corp boosted its stake in Koppers by 11.3% during the 2nd quarter. State Street Corp now owns 573,048 shares of the specialty chemicals company’s stock valued at $20,716,000 after acquiring an additional 58,405 shares during the last quarter. Finally, Harvey Partners LLC bought a new position in Koppers during the 3rd quarter valued at $2,192,000. Institutional investors and hedge funds own 91.90% of the company’s stock.
KOP has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $65.00 price objective on shares of Koppers in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Koppers from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, March 8th. TheStreet downgraded shares of Koppers from a “b-” rating to a “c” rating in a research note on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Koppers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.33.
Shares of Koppers Holdings Inc. (NYSE:KOP) opened at $43.85 on Friday. The firm has a market cap of $895.55, a price-to-earnings ratio of 11.68 and a beta of 0.94. Koppers Holdings Inc. has a twelve month low of $33.90 and a twelve month high of $51.80. The company has a current ratio of 1.80, a quick ratio of 0.96 and a debt-to-equity ratio of 6.29.
Koppers (NYSE:KOP) last issued its earnings results on Tuesday, February 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.04). The business had revenue of $366.10 million for the quarter, compared to analyst estimates of $308.05 million. Koppers had a return on equity of 94.85% and a net margin of 1.97%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. sell-side analysts anticipate that Koppers Holdings Inc. will post 4.03 EPS for the current fiscal year.
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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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