Paloma Partners Management Co Grows Position in Koppers Holdings Inc. (KOP)
Paloma Partners Management Co boosted its holdings in Koppers Holdings Inc. (NYSE:KOP) by 84.1% in the 2nd quarter, Holdings Channel reports. The firm owned 9,004 shares of the specialty chemicals company’s stock after purchasing an additional 4,113 shares during the period. Paloma Partners Management Co’s holdings in Koppers were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Koppers by 6.3% during the 2nd quarter. Bank of America Corp DE now owns 141,240 shares of the specialty chemicals company’s stock worth $5,417,000 after acquiring an additional 8,426 shares during the period. Raymond James & Associates purchased a new position in shares of Koppers during the 2nd quarter worth about $301,000. BlueMountain Capital Management LLC lifted its holdings in shares of Koppers by 157.2% during the 2nd quarter. BlueMountain Capital Management LLC now owns 58,249 shares of the specialty chemicals company’s stock worth $2,234,000 after acquiring an additional 35,600 shares during the period. ClariVest Asset Management LLC lifted its holdings in shares of Koppers by 167.6% during the 2nd quarter. ClariVest Asset Management LLC now owns 31,132 shares of the specialty chemicals company’s stock worth $1,194,000 after acquiring an additional 19,500 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of Koppers during the 2nd quarter worth about $997,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Several research analysts have recently weighed in on KOP shares. Barrington Research set a $61.00 price objective on shares of Koppers and gave the stock a “buy” rating in a report on Wednesday, September 5th. ValuEngine upgraded shares of Koppers from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research upgraded shares of Koppers from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. B. Riley set a $60.00 price objective on shares of Koppers and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, TheStreet lowered shares of Koppers from a “b-” rating to a “c” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Koppers currently has an average rating of “Hold” and a consensus price target of $50.00.
Shares of KOP stock opened at $31.50 on Thursday. The stock has a market cap of $689.31 million, a PE ratio of 8.26, a P/E/G ratio of 0.44 and a beta of 0.84. Koppers Holdings Inc. has a 1-year low of $31.40 and a 1-year high of $51.80. The company has a debt-to-equity ratio of 9.65, a quick ratio of 1.05 and a current ratio of 2.03.
Koppers (NYSE:KOP) last posted its earnings results on Thursday, August 9th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.18). The business had revenue of $436.00 million for the quarter, compared to analyst estimates of $490.60 million. Koppers had a return on equity of 79.35% and a net margin of 1.47%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. analysts forecast that Koppers Holdings Inc. will post 4.1 earnings per share for the current fiscal year.
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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