Koppers Holdings Inc. (NYSE:KOP) – Seaport Global Securities boosted their Q2 2019 EPS estimates for shares of Koppers in a research note issued to investors on Tuesday, May 7th. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.96 per share for the quarter, up from their previous estimate of $0.77. Seaport Global Securities also issued estimates for Koppers’ Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.76 EPS, FY2019 earnings at $3.30 EPS and FY2020 earnings at $4.31 EPS.
Several other equities research analysts have also recently weighed in on KOP. Monness Crespi & Hardt restated a “buy” rating and issued a $33.00 price objective (up previously from $28.00) on shares of Koppers in a research report on Monday, March 4th. Barrington Research restated a “buy” rating and issued a $34.00 price objective on shares of Koppers in a research report on Monday, March 4th. TheStreet upgraded shares of Koppers from a “d+” rating to a “c” rating in a research report on Friday, March 22nd. Zacks Investment Research raised shares of Koppers from a “sell” rating to a “hold” rating and set a $33.00 target price on the stock in a research note on Wednesday. Finally, ValuEngine raised shares of Koppers from a “strong sell” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Koppers presently has an average rating of “Buy” and a consensus price target of $36.40.
Koppers (NYSE:KOP) last posted its quarterly earnings data on Friday, May 3rd. The specialty chemicals company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $434.90 million during the quarter, compared to analysts’ expectations of $413.87 million. Koppers had a net margin of 0.98% and a return on equity of 74.25%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS.
A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of Koppers by 41.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,256 shares of the specialty chemicals company’s stock valued at $90,000 after purchasing an additional 1,552 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Koppers by 351.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,802 shares of the specialty chemicals company’s stock valued at $116,000 after purchasing an additional 5,296 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Koppers by 475.6% in the first quarter. BNP Paribas Arbitrage SA now owns 4,639 shares of the specialty chemicals company’s stock valued at $121,000 after purchasing an additional 3,833 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Koppers in the fourth quarter valued at approximately $133,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Koppers in the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.
In related news, VP R. Michael Johnson bought 20,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $510,000.00. Following the acquisition, the vice president now owns 183,787 shares of the company’s stock, valued at approximately $4,686,568.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven R. Lacy sold 2,335 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $29.80, for a total transaction of $69,583.00. Following the sale, the insider now owns 62,262 shares in the company, valued at $1,855,407.60. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.
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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