Koppers Holdings Inc. (NYSE:KOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Koppers Holdings Inc. is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. “
KOP has been the subject of several other reports. Jefferies Group reissued a “buy” rating on shares of Koppers Holdings in a research note on Wednesday, July 6th. Wunderlich raised their price objective on Koppers Holdings from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 30th. Finally, Monness Crespi & Hardt lowered Koppers Holdings from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $37.00.
Koppers Holdings (NYSE:KOP) opened at 31.99 on Wednesday. The firm’s market cap is $660.66 million. Koppers Holdings has a 12-month low of $13.58 and a 12-month high of $33.71. The stock’s 50 day moving average is $31.74 and its 200 day moving average is $28.78.
Koppers Holdings (NYSE:KOP) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The firm earned $385.10 million during the quarter, compared to analyst estimates of $395.95 million. Koppers Holdings had a positive return on equity of 251.65% and a negative net margin of 4.37%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. On average, equities research analysts expect that Koppers Holdings will post $2.14 EPS for the current year.
In other news, VP Leslie S. Hyde sold 2,850 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $32.48, for a total value of $92,568.00. Following the completion of the sale, the vice president now owns 25,432 shares of the company’s stock, valued at $826,031.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Steven R. Lacy sold 6,670 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $32.76, for a total value of $218,509.20. Following the completion of the sale, the vice president now directly owns 57,788 shares of the company’s stock, valued at approximately $1,893,134.88. The disclosure for this sale can be found here. 4.69% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Societe Generale acquired a new stake in shares of Koppers Holdings during the second quarter valued at approximately $109,000. SG Americas Securities LLC acquired a new stake in shares of Koppers Holdings during the second quarter valued at approximately $109,000. Public Employees Retirement System of Ohio boosted its stake in shares of Koppers Holdings by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,795 shares of the company’s stock valued at $117,000 after buying an additional 38 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of Koppers Holdings during the second quarter valued at approximately $124,000. Finally, BlackRock Inc. boosted its stake in shares of Koppers Holdings by 68.9% in the second quarter. BlackRock Inc. now owns 4,147 shares of the company’s stock valued at $128,000 after buying an additional 1,692 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.
Koppers Holdings Company Profile
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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