Koppers (KOP) Bonds Trading 1.3% Lower

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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.

Koppers (NYSE:KOP) last released its quarterly earnings data on Thursday, November 8th. The specialty chemicals company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.38). Koppers had a return on equity of 70.26% and a net margin of 0.68%. The firm had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $502.63 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts anticipate that Koppers Holdings Inc. will post 3.33 earnings per share for the current year.

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.

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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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