An issue of Koppers Holdings Inc. (NYSE:KOP) debt fell 1.3% against its face value during trading on Thursday. The debt issue has a 6% coupon and will mature on February 15, 2025. The bonds in the issue are now trading at $89.00 and were trading at $90.25 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Several brokerages have recently weighed in on KOP. Zacks Investment Research downgraded Koppers from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 13th. B. Riley reiterated a “buy” rating and issued a $40.00 price target on shares of Koppers in a report on Friday, November 9th. Monness Crespi & Hardt upgraded Koppers from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, November 13th. Barrington Research reiterated a “buy” rating on shares of Koppers in a report on Monday, December 3rd. Finally, TheStreet downgraded Koppers from a “c-” rating to a “d+” rating in a report on Friday, December 7th. One equities 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. Koppers presently has a consensus rating of “Buy” and an average price target of $37.40.
KOP traded down $0.33 during trading on Thursday, hitting $22.79. 161,100 shares of the stock were exchanged, compared to its average volume of 216,057. The company has a market capitalization of $474.56 million, a P/E ratio of 6.19, a PEG ratio of 0.34 and a beta of 0.85. Koppers Holdings Inc. has a 1 year low of $15.00 and a 1 year high of $46.45. The company has a quick ratio of 1.12, a current ratio of 2.14 and a debt-to-equity ratio of 12.97.
In related news, VP R. Michael Johnson purchased 50,000 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $1,008,000.00. Following the acquisition, the vice president now owns 96,534 shares of the company’s stock, valued at approximately $1,946,125.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Zugay purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The stock was bought at an average price of $17.10 per share, for a total transaction of $171,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 150,000 shares of company stock worth $2,817,180 and sold 6,414 shares worth $209,040. Company insiders own 8.70% of the company’s stock.
Several large investors have recently made changes to their positions in KOP. Arizona State Retirement System boosted its position in shares of Koppers by 2.8% in the 4th quarter. Arizona State Retirement System now owns 31,582 shares of the specialty chemicals company’s stock worth $538,000 after purchasing an additional 862 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Koppers by 6.4% in the 2nd quarter. Legal & General Group Plc now owns 45,720 shares of the specialty chemicals company’s stock worth $1,756,000 after purchasing an additional 2,735 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Koppers by 8.8% in the 3rd quarter. GSA Capital Partners LLP now owns 36,924 shares of the specialty chemicals company’s stock worth $1,150,000 after purchasing an additional 2,987 shares in the last quarter. Northern Trust Corp boosted its position in shares of Koppers by 1.0% in the 2nd quarter. Northern Trust Corp now owns 314,045 shares of the specialty chemicals company’s stock worth $12,044,000 after purchasing an additional 3,203 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Koppers by 2.3% in the 3rd quarter. LSV Asset Management now owns 180,700 shares of the specialty chemicals company’s stock worth $5,628,000 after purchasing an additional 4,100 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
Koppers Company Profile (NYSE:KOP)
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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