BlackRock Inc. Cuts Position in Koppers Holdings Inc. (KOP)

BlackRock Inc. trimmed its position in Koppers Holdings Inc. (NYSE:KOP) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,505,827 shares of the specialty chemicals company’s stock after selling 23,841 shares during the period. BlackRock Inc. owned 12.08% of Koppers Holdings worth $90,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Koppers Holdings by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 2,451,644 shares of the specialty chemicals company’s stock valued at $103,828,000 after acquiring an additional 179,784 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Koppers Holdings by 25.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the specialty chemicals company’s stock valued at $32,535,000 after acquiring an additional 180,000 shares during the period. Prudential Financial Inc. increased its position in shares of Koppers Holdings by 5.1% in the 2nd quarter. Prudential Financial Inc. now owns 284,960 shares of the specialty chemicals company’s stock valued at $10,301,000 after acquiring an additional 13,796 shares during the period. Teachers Advisors LLC increased its position in shares of Koppers Holdings by 14.2% in the 2nd quarter. Teachers Advisors LLC now owns 283,177 shares of the specialty chemicals company’s stock valued at $10,237,000 after acquiring an additional 35,225 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Koppers Holdings by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 273,876 shares of the specialty chemicals company’s stock valued at $9,900,000 after acquiring an additional 26,262 shares during the period. 87.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Koppers Holdings Inc. (KOP) opened at 48.75 on Friday. The firm’s 50-day moving average price is $44.38 and its 200 day moving average price is $39.69. The firm has a market capitalization of $1.01 billion, a P/E ratio of 24.82 and a beta of 0.98. Koppers Holdings Inc. has a 12 month low of $31.30 and a 12 month high of $50.00.

Koppers Holdings (NYSE:KOP) last announced its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.26. Koppers Holdings had a net margin of 3.02% and a return on equity of 153.51%. The business had revenue of $378.00 million during the quarter, compared to analysts’ expectations of $369.00 million. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Analysts anticipate that Koppers Holdings Inc. will post $3.24 earnings per share for the current fiscal year.

Several research firms recently issued reports on KOP. Zacks Investment Research raised Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 8th. TheStreet raised Koppers Holdings from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. FBR & Co reaffirmed an “outperform” rating and set a $44.00 price target on shares of Koppers Holdings in a research report on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “hold” rating and set a $40.00 price target on shares of Koppers Holdings in a research report on Thursday, October 12th. Finally, Wunderlich raised Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Koppers Holdings presently has a consensus rating of “Buy” and a consensus price target of $45.40.

In other news, VP Leslie S. Hyde sold 1,800 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $43.00, for a total value of $77,400.00. Following the completion of the sale, the vice president now directly owns 19,927 shares of the company’s stock, valued at $856,861. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Leslie S. Hyde sold 1,810 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were 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 directly owns 19,727 shares of the company’s stock, valued at $887,715. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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About Koppers Holdings

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.

Institutional Ownership by Quarter for Koppers Holdings (NYSE:KOP)

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