BlackRock Inc. Purchases 265,470 Shares of Koppers Holdings Inc. (KOP)
BlackRock Inc. grew its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 10.3% in the fourth quarter, Holdings Channel reports. The fund owned 2,831,311 shares of the specialty chemicals company’s stock after acquiring an additional 265,470 shares during the period. BlackRock Inc. owned approximately 0.14% of Koppers worth $144,115,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in KOP. The Manufacturers Life Insurance Company boosted its position in Koppers by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,050 shares of the specialty chemicals company’s stock worth $580,000 after acquiring an additional 474 shares during the last quarter. Nationwide Fund Advisors boosted its position in Koppers by 6.2% during the 3rd quarter. Nationwide Fund Advisors now owns 35,797 shares of the specialty chemicals company’s stock worth $1,652,000 after acquiring an additional 2,105 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Koppers during the 3rd quarter worth approximately $195,000. BNP Paribas Arbitrage SA boosted its position in Koppers by 35.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,100 shares of the specialty chemicals company’s stock worth $512,000 after acquiring an additional 2,893 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in Koppers by 60.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,810 shares of the specialty chemicals company’s stock worth $360,000 after acquiring an additional 2,930 shares during the last quarter. 91.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Koppers stock opened at $43.40 on Thursday. Koppers Holdings Inc. has a 12 month low of $33.90 and a 12 month high of $51.80. The stock has a market capitalization of $900.75, a P/E ratio of 33.38 and a beta of 0.94. The company has a debt-to-equity ratio of 6.29, a quick ratio of 0.96 and a current ratio of 1.80.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Koppers from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. ValuEngine cut Koppers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. B. Riley reiterated a “buy” rating and set a $65.00 price objective on shares of Koppers in a research note on Tuesday, December 19th. Finally, TheStreet cut Koppers from a “b-” rating to a “c” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.33.
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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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