Principal Financial Group Inc. cut its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,301 shares of the specialty chemicals company’s stock after selling 1,807 shares during the period. Principal Financial Group Inc. owned approximately 0.80% of Koppers worth $7,675,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of KOP. Vanguard Group Inc. increased its position in shares of Koppers by 7.2% during the second quarter. Vanguard Group Inc. now owns 2,627,991 shares of the specialty chemicals company’s stock worth $95,002,000 after acquiring an additional 176,347 shares in the last quarter. Redwood Investments LLC grew its position in Koppers by 49.7% in the 2nd quarter. Redwood Investments LLC now owns 185,952 shares of the specialty chemicals company’s stock worth $6,722,000 after purchasing an additional 61,729 shares in the last quarter. State Street Corp grew its position in Koppers by 11.3% in the 2nd quarter. State Street Corp now owns 573,048 shares of the specialty chemicals company’s stock worth $20,716,000 after purchasing an additional 58,405 shares in the last quarter. Nordea Investment Management AB bought a new stake in Koppers in the 2nd quarter worth about $1,930,000. Finally, First Trust Advisors LP bought a new stake in Koppers in the 2nd quarter worth about $1,709,000. 89.29% of the stock is owned by institutional investors.
In related news, VP Leslie S. Hyde sold 1,800 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $43.00, for a total value of $77,400.00. Following the sale, the vice president now owns 19,927 shares in the company, valued at $856,861. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Leslie S. Hyde sold 1,810 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 19,727 shares in the company, valued at approximately $887,715. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
KOP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Koppers from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Friday, November 17th. Barrington Research reissued an “outperform” rating and issued a $55.00 price target on shares of Koppers in a report on Thursday, September 14th. Finally, Jefferies Group reissued a “hold” rating and issued a $40.00 price target on shares of Koppers in a report on Thursday, October 12th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $47.20.
Koppers Holdings Inc. (NYSE KOP) traded down $0.70 during trading hours on Thursday, reaching $49.00. 178,000 shares of the company’s stock were exchanged, compared to its average volume of 120,686. Koppers Holdings Inc. has a 1-year low of $33.90 and a 1-year high of $51.80. The company has a market cap of $1,031.05, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.74 and a beta of 1.01. The company has a debt-to-equity ratio of 6.08, a quick ratio of 1.13 and a current ratio of 2.02.
Koppers (NYSE:KOP) last issued its quarterly earnings results on Thursday, November 9th. The specialty chemicals company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.55. Koppers had a net margin of 3.54% and a return on equity of 119.06%. The business had revenue of $384.80 million for the quarter, compared to the consensus estimate of $363.00 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. sell-side analysts anticipate that Koppers Holdings Inc. will post 3.75 EPS for the current fiscal year.
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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