Koppers Holdings Inc. (NYSE:KOP) – Equities researchers at Seaport Global Securities upped their Q3 2019 EPS estimates for Koppers in a research report issued on Monday, August 12th. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $1.03 for the quarter, up from their previous forecast of $0.96. Seaport Global Securities also issued estimates for Koppers’ Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $3.52 EPS, Q2 2020 earnings at $1.31 EPS, Q3 2020 earnings at $1.31 EPS, Q4 2020 earnings at $0.95 EPS and FY2020 earnings at $4.34 EPS.
A number of other research firms have also weighed in on KOP. Monness Crespi & Hardt reissued a “buy” rating and issued a $37.00 price objective (up previously from $33.00) on shares of Koppers in a research report on Friday, August 9th. ValuEngine lowered shares of Koppers from a “sell” rating to a “strong sell” rating in a research report on Friday, July 12th. Zacks Investment Research lowered shares of Koppers from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barrington Research reissued a “buy” rating and issued a $35.00 price objective on shares of Koppers in a research report on Tuesday. One research 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’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.80.
Koppers (NYSE:KOP) last posted its quarterly earnings data on Thursday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.17. The business had revenue of $469.80 million during the quarter, compared to analyst estimates of $491.43 million. Koppers had a net margin of 1.76% and a return on equity of 77.19%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share.
In related news, insider Bradley A. Pearce sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $27.75, for a total value of $27,750.00. Following the completion of the sale, the insider now directly owns 16,477 shares in the company, valued at $457,236.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R. Michael Johnson bought 12,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $28.92 per share, with a total value of $347,040.00. Following the completion of the acquisition, the vice president now owns 209,073 shares of the company’s stock, valued at approximately $6,046,391.16. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC acquired a new stake in Koppers in the second quarter valued at $5,521,000. Victory Capital Management Inc. raised its holdings in Koppers by 13.7% in the second quarter. Victory Capital Management Inc. now owns 67,000 shares of the specialty chemicals company’s stock valued at $1,967,000 after acquiring an additional 8,075 shares in the last quarter. Jefferies Group LLC acquired a new stake in Koppers in the second quarter valued at $242,000. Morgan Stanley raised its holdings in shares of Koppers by 433.0% during the second quarter. Morgan Stanley now owns 103,916 shares of the specialty chemicals company’s stock worth $3,051,000 after purchasing an additional 84,420 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Koppers by 8.2% during the second quarter. Bank of America Corp DE now owns 190,473 shares of the specialty chemicals company’s stock worth $5,593,000 after purchasing an additional 14,435 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.
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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