First Trust Advisors LP boosted its position in Koppers Holdings Inc. (NYSE:KOP) by 67.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,362 shares of the specialty chemicals company’s stock after buying an additional 13,404 shares during the period. First Trust Advisors LP’s holdings in Koppers were worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KOP. Piedmont Investment Advisors LLC purchased a new stake in Koppers in the second quarter valued at approximately $188,000. WINTON GROUP Ltd purchased a new stake in Koppers in the first quarter valued at approximately $206,000. Xact Kapitalforvaltning AB purchased a new stake in Koppers in the 1st quarter worth approximately $257,000. Stevens Capital Management LP purchased a new stake in Koppers in the 1st quarter worth approximately $396,000. Finally, Howe & Rusling Inc. boosted its position in Koppers by 14.0% in the 2nd quarter. Howe & Rusling Inc. now owns 11,036 shares of the specialty chemicals company’s stock worth $423,000 after purchasing an additional 1,353 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.
In other Koppers news, insider M Leroy Ball bought 2,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $34.96 per share, for a total transaction of $69,920.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP R. Michael Johnson bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $35.36 per share, for a total transaction of $884,000.00. Following the transaction, the vice president now directly owns 46,534 shares in the company, valued at $1,645,442.24. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 33,000 shares of company stock worth $1,169,050. Insiders own 8.70% of the company’s stock.
KOP has been the topic of several recent research reports. ValuEngine upgraded Koppers from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research lowered Koppers from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. B. Riley set a $60.00 price objective on Koppers and gave the stock a “buy” rating in a research report on Friday, August 10th. Barrington Research restated a “buy” rating and issued a $61.00 price objective on shares of Koppers in a research report on Monday, August 13th. Finally, TheStreet lowered Koppers from a “b-” rating to a “c” rating in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.
Koppers stock opened at $32.30 on Monday. The company has a debt-to-equity ratio of 9.65, a quick ratio of 1.05 and a current ratio of 2.03. Koppers Holdings Inc. has a 12 month low of $32.00 and a 12 month high of $51.80. The company has a market capitalization of $709.43 million, a price-to-earnings ratio of 8.78, a P/E/G ratio of 0.45 and a beta of 0.84.
Koppers (NYSE:KOP) last released its quarterly earnings data on Thursday, August 9th. The specialty chemicals company reported $0.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.18). Koppers had a return on equity of 79.35% and a net margin of 1.47%. The company had revenue of $436.00 million during the quarter, compared to analysts’ expectations of $490.60 million. During the same quarter in the prior year, the company posted $1.18 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. sell-side analysts expect that Koppers Holdings Inc. will post 4.1 earnings per share for the current year.
Koppers Holdings Inc, through its subsidiaries, provides treated wood products, wood treatment chemicals, and carbon compounds in the United States and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
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