Koppers Holdings Inc. (KOP) Position Decreased by Texas Permanent School Fund
Texas Permanent School Fund cut its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,962 shares of the specialty chemicals company’s stock after selling 109 shares during the period. Texas Permanent School Fund owned 0.07% of Koppers Holdings worth $634,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of KOP. US Bancorp DE boosted its stake in Koppers Holdings by 111.7% in the first quarter. US Bancorp DE now owns 2,532 shares of the specialty chemicals company’s stock valued at $107,000 after buying an additional 1,336 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Koppers Holdings by 24.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,884 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 570 shares in the last quarter. Janney Capital Management LLC acquired a new stake in Koppers Holdings during the first quarter valued at approximately $231,000. Karp Capital Management Corp acquired a new stake in Koppers Holdings during the first quarter valued at approximately $292,000. Finally, Chicago Equity Partners LLC acquired a new stake in Koppers Holdings during the first quarter valued at approximately $305,000. 90.72% of the stock is owned by institutional investors and hedge funds.
Koppers Holdings Inc. (NYSE KOP) opened at 34.45 on Friday. Koppers Holdings Inc. has a 12-month low of $26.76 and a 12-month high of $45.85. The stock has a 50 day moving average price of $37.71 and a 200-day moving average price of $40.70. The firm has a market capitalization of $716.77 million, a PE ratio of 21.17 and a beta of 0.93.
Koppers Holdings (NYSE:KOP) last announced its quarterly earnings data on Friday, May 5th. The specialty chemicals company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.33. Koppers Holdings had a return on equity of 217.62% and a net margin of 2.47%. The company had revenue of $346.60 million during the quarter, compared to the consensus estimate of $327.10 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast that Koppers Holdings Inc. will post $2.92 EPS for the current year.
Several research firms have recently commented on KOP. Jefferies Group LLC cut Koppers Holdings from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $40.00 in a report on Wednesday, May 31st. ValuEngine raised Koppers Holdings from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 1st. Zacks Investment Research cut Koppers Holdings from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Barrington Research lifted their price objective on Koppers Holdings from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.25.
In other news, SVP Thomas D. Loadman sold 3,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $35.01, for a total transaction of $105,030.00. Following the completion of the sale, the senior vice president now owns 35,927 shares in the company, valued at approximately $1,257,804.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Thomas D. Loadman sold 10,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $38.92, for a total value of $389,200.00. Following the sale, the senior vice president now owns 48,927 shares of the company’s stock, valued at approximately $1,904,238.84. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
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.
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