AE Wealth Management LLC lessened its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,064 shares of the specialty chemicals company’s stock after selling 3,688 shares during the period. AE Wealth Management LLC’s holdings in Koppers were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KOP. C M Bidwell & Associates Ltd. acquired a new position in shares of Koppers during the 2nd quarter worth about $39,000. Quantamental Technologies LLC acquired a new position in shares of Koppers during the 2nd quarter worth about $53,000. Bank of Montreal Can raised its position in shares of Koppers by 106.1% during the 2nd quarter. Bank of Montreal Can now owns 3,088 shares of the specialty chemicals company’s stock worth $91,000 after purchasing an additional 1,590 shares during the last quarter. Bailard Inc. acquired a new position in shares of Koppers during the 3rd quarter worth about $219,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Koppers during the 2nd quarter worth about $224,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
In related news, Director Xudong Feng sold 2,442 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $26.92, for a total transaction of $65,738.64. Following the completion of the sale, the director now owns 27,510 shares of the company’s stock, valued at approximately $740,569.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Leslie S. Hyde sold 2,687 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $29.72, for a total transaction of $79,857.64. Following the sale, the vice president now directly owns 34,655 shares of the company’s stock, valued at approximately $1,029,946.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,744 shares of company stock valued at $385,413. 5.90% of the stock is owned by corporate insiders.
Koppers (NYSE:KOP) last announced its quarterly earnings data on Thursday, November 7th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.27. Koppers had a net margin of 2.40% and a return on equity of 81.83%. The company had revenue of $474.90 million during the quarter, compared to analysts’ expectations of $485.13 million. During the same quarter in the prior year, the company earned $0.73 EPS. Koppers’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Koppers Holdings Inc. will post 3.47 EPS for the current fiscal year.
Several research firms recently weighed in on KOP. ValuEngine upgraded shares of Koppers from a “strong sell” rating to a “sell” rating in a research report on Friday, November 8th. Zacks Investment Research downgraded shares of Koppers from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Monness Crespi & Hardt upped their price target on shares of Koppers from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Barrington Research upped their price target on shares of Koppers from $35.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $42.33.
Koppers Company Profile
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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