Koppers Holdings Inc. (KOP) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Koppers Holdings Inc. (NYSE:KOP) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,235 shares of the specialty chemicals company’s stock after selling 2,538 shares during the quarter. Comerica Bank owned approximately 0.24% of Koppers Holdings worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Koppers Holdings by 32,452.7% in the 1st quarter. BlackRock Inc. now owns 2,529,668 shares of the specialty chemicals company’s stock valued at $107,130,000 after acquiring an additional 2,521,897 shares during the last quarter. Vanguard Group Inc. boosted its position in Koppers Holdings by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 2,451,644 shares of the specialty chemicals company’s stock valued at $103,828,000 after purchasing an additional 179,784 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Koppers Holdings by 25.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the specialty chemicals company’s stock valued at $32,535,000 after purchasing an additional 180,000 shares during the period. Bank of New York Mellon Corp boosted its position in Koppers Holdings by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,876 shares of the specialty chemicals company’s stock valued at $9,900,000 after purchasing an additional 26,262 shares during the period. Finally, Prudential Financial Inc. boosted its position in Koppers Holdings by 8.3% during the 1st quarter. Prudential Financial Inc. now owns 271,164 shares of the specialty chemicals company’s stock valued at $11,484,000 after purchasing an additional 20,730 shares during the period. Institutional investors and hedge funds own 87.90% of the company’s stock.

Koppers Holdings Inc. (KOP) opened at 38.85 on Monday. The company’s 50-day moving average price is $38.17 and its 200-day moving average price is $39.09. The firm has a market cap of $805.94 million, a price-to-earnings ratio of 19.78 and a beta of 0.97. Koppers Holdings Inc. has a 52-week low of $28.54 and a 52-week high of $45.85.

Koppers Holdings (NYSE:KOP) last issued its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.26. Koppers Holdings had a return on equity of 153.51% and a net margin of 3.02%. The business had revenue of $378 million during the quarter, compared to analysts’ expectations of $369 million. During the same period in the prior year, the firm posted $0.93 EPS. Koppers Holdings’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts predict that Koppers Holdings Inc. will post $3.24 EPS for the current year.

KOP has been the subject of a number of analyst reports. Wunderlich upgraded Koppers Holdings from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, June 28th. ValuEngine upgraded Koppers Holdings from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 1st. Zacks Investment Research lowered Koppers Holdings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Jefferies Group LLC lowered Koppers Holdings from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $40.00 in a research report on Wednesday, May 31st. Finally, Barrington Research boosted their price objective on Koppers Holdings from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.40.

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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.

Institutional Ownership by Quarter for Koppers Holdings (NYSE:KOP)

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