Emerald Advisers Inc. PA raised its stake in Koppers Holdings Inc. (NYSE:KOP) by 96.0% during the second quarter, Holdings Channel reports. The firm owned 114,929 shares of the company’s stock after buying an additional 56,305 shares during the period. Emerald Advisers Inc. PA’s holdings in Koppers Holdings were worth $3,532,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Koppers Holdings by 127.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,438 shares of the company’s stock valued at $198,000 after buying an additional 3,606 shares during the period. Springbok Capital Management LLC boosted its position in Koppers Holdings by 1.9% in the first quarter. Springbok Capital Management LLC now owns 10,700 shares of the company’s stock worth $240,000 after buying an additional 200 shares during the last quarter. BlackRock Group LTD boosted its position in Koppers Holdings by 4.8% in the first quarter. BlackRock Group LTD now owns 36,154 shares of the company’s stock worth $812,000 after buying an additional 1,665 shares during the last quarter. Mountain Lake Investment Management LLC boosted its position in Koppers Holdings by 1.4% in the first quarter. Mountain Lake Investment Management LLC now owns 555,500 shares of the company’s stock worth $12,482,000 after buying an additional 7,530 shares during the last quarter. Finally, Southernsun Asset Management LLC boosted its position in Koppers Holdings by 18.7% in the first quarter. Southernsun Asset Management LLC now owns 1,618,948 shares of the company’s stock worth $36,378,000 after buying an additional 255,567 shares during the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Koppers Holdings Inc. (NYSE:KOP) traded down 2.55% during mid-day trading on Friday, hitting $32.08. 38,801 shares of the stock traded hands. Koppers Holdings Inc. has a 12-month low of $13.58 and a 12-month high of $33.71. The firm’s market cap is $662.52 million. The firm’s 50 day moving average price is $31.74 and its 200 day moving average price is $28.52.
Koppers Holdings (NYSE:KOP) last issued its earnings results on Thursday, August 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. Koppers Holdings had a negative net margin of 4.37% and a positive return on equity of 251.65%. The business earned $385.10 million during the quarter, compared to analysts’ expectations of $395.95 million. During the same quarter in the prior year, the business posted $0.68 EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities research analysts predict that Koppers Holdings Inc. will post $2.14 EPS for the current fiscal year.
A number of research analysts have weighed in on KOP shares. Wunderlich lifted their price objective on shares of Koppers Holdings from $32.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Jefferies Group reaffirmed a “buy” rating on shares of Koppers Holdings in a report on Wednesday, July 6th. Zacks Investment Research cut shares of Koppers Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Monness Crespi & Hardt cut shares of Koppers Holdings from a “buy” rating to a “neutral” rating in a report on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.00.
In related news, VP Leslie S. Hyde sold 2,850 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $32.48, for a total transaction of $92,568.00. Following the completion of the sale, the vice president now owns 25,432 shares in the company, valued at approximately $826,031.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Steven R. Lacy sold 6,670 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $32.76, for a total transaction of $218,509.20. Following the sale, the vice president now 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 currently owned by insiders.
About Koppers Holdings
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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