Mackay Shields LLC Invests $2.45 Million in Koppers (KOP)

Mackay Shields LLC acquired a new stake in shares of Koppers (NYSE:KOP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,586 shares of the specialty chemicals company’s stock, valued at approximately $2,449,000. Mackay Shields LLC owned about 0.29% of Koppers as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of KOP. Acadian Asset Management LLC acquired a new position in shares of Koppers during the 4th quarter valued at about $141,000. LS Investment Advisors LLC increased its holdings in shares of Koppers by 314.0% during the 4th quarter. LS Investment Advisors LLC now owns 2,902 shares of the specialty chemicals company’s stock valued at $148,000 after acquiring an additional 2,201 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Koppers during the 4th quarter valued at about $232,000. Cigna Investments Inc. New acquired a new position in shares of Koppers during the 4th quarter valued at about $277,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Koppers by 61.1% during the 4th quarter. Macquarie Group Ltd. now owns 5,800 shares of the specialty chemicals company’s stock valued at $295,000 after acquiring an additional 2,200 shares during the last quarter. 91.49% of the stock is currently owned by institutional investors and hedge funds.

KOP opened at $39.85 on Friday. The company has a market capitalization of $825.66 million, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.88. The company has a current ratio of 2.07, a quick ratio of 1.15 and a debt-to-equity ratio of 6.60. Koppers has a 12-month low of $38.55 and a 12-month high of $38.80.

Koppers (NYSE:KOP) last released its earnings results on Thursday, May 3rd. The specialty chemicals company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.33. The firm had revenue of $406.10 million for the quarter, compared to analyst estimates of $408.20 million. Koppers had a return on equity of 90.02% and a net margin of 2.77%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. research analysts expect that Koppers will post 3.83 EPS for the current fiscal year.

In other Koppers news, VP R. Michael Johnson bought 10,000 shares of the stock in a transaction on Tuesday, May 15th. The shares were purchased at an average price of $38.45 per share, with a total value of $384,500.00. Following the acquisition, the vice president now directly owns 11,534 shares of the company’s stock, valued at approximately $443,482.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen C. Reeder sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $39.23, for a total value of $196,150.00. Following the completion of the sale, the senior vice president now owns 20,849 shares of the company’s stock, valued at approximately $817,906.27. The disclosure for this sale can be found here. Company insiders own 8.70% of the company’s stock.

A number of brokerages have recently commented on KOP. Zacks Investment Research raised Koppers from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet raised Koppers from a “c” rating to a “b-” rating in a report on Friday, May 4th. ValuEngine lowered Koppers from a “hold” rating to a “sell” rating in a report on Friday, May 4th. Finally, B. Riley set a $60.00 price objective on Koppers and gave the company a “buy” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.33.

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

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