Bank of New York Mellon Corp Boosts Stake in Koppers Holdings Inc. (KOP)
Bank of New York Mellon Corp grew its position in Koppers Holdings Inc. (NYSE:KOP) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259,314 shares of the specialty chemicals company’s stock after purchasing an additional 5,010 shares during the quarter. Bank of New York Mellon Corp’s holdings in Koppers were worth $4,418,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Koppers by 246.1% during the third quarter. SG Americas Securities LLC now owns 19,411 shares of the specialty chemicals company’s stock worth $605,000 after purchasing an additional 13,803 shares during the period. BlackRock Inc. lifted its holdings in shares of Koppers by 7.4% during the third quarter. BlackRock Inc. now owns 3,336,675 shares of the specialty chemicals company’s stock worth $103,938,000 after purchasing an additional 229,138 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Koppers by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 671,438 shares of the specialty chemicals company’s stock worth $20,915,000 after purchasing an additional 20,898 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Koppers during the third quarter worth $237,000. Finally, Jefferies Group LLC acquired a new stake in shares of Koppers during the third quarter worth $233,000. 96.42% of the stock is currently owned by institutional investors.
In other Koppers news, VP R. Michael Johnson bought 20,000 shares of Koppers stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $25.50 per share, with a total value of $510,000.00. Following the completion of the acquisition, the vice president now owns 183,787 shares in the company, valued at $4,686,568.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by company insiders.
Koppers (NYSE:KOP) last released its earnings results on Friday, March 1st. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.15. Koppers had a return on equity of 81.39% and a net margin of 1.37%. The company had revenue of $425.40 million during the quarter, compared to the consensus estimate of $432.00 million. During the same quarter last year, the company earned $0.40 earnings per share. Koppers’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, analysts predict that Koppers Holdings Inc. will post 3.15 earnings per share for the current year.
Several brokerages recently weighed in on KOP. TheStreet raised Koppers from a “d+” rating to a “c” rating in a report on Friday, March 22nd. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $33.00 price target (up from $28.00) on shares of Koppers in a report on Monday, March 4th. Finally, Barrington Research reaffirmed a “buy” rating and set a $34.00 price target on shares of Koppers in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Koppers currently has a consensus rating of “Buy” and an average price target of $37.60.
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Koppers Holdings Inc, through its subsidiaries, provides treated wood products, wood treatment chemicals, and carbon compounds in the United States and internationally. The company operates through three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
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