Short Interest in Koppers Holdings Inc. (NYSE:KOP) Decreases By 9.7%

Koppers Holdings Inc. (NYSE:KOP) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 461,100 shares, a drop of 9.7% from the January 15th total of 510,400 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 175,000 shares, the days-to-cover ratio is presently 2.6 days.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in Koppers by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 29,326 shares of the specialty chemicals company’s stock valued at $857,000 after purchasing an additional 350 shares during the period. Crossmark Global Holdings Inc. raised its stake in Koppers by 6.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,060 shares of the specialty chemicals company’s stock valued at $308,000 after purchasing an additional 520 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Koppers by 47.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,141 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 691 shares during the period. Point72 Hong Kong Ltd bought a new stake in Koppers during the 4th quarter valued at approximately $40,000. Finally, Swiss National Bank raised its stake in Koppers by 3.7% during the 4th quarter. Swiss National Bank now owns 39,600 shares of the specialty chemicals company’s stock valued at $1,514,000 after purchasing an additional 1,400 shares during the period. 90.06% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on KOP shares. Zacks Investment Research downgraded Koppers from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. ValuEngine downgraded Koppers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 20th. Barrington Research raised their price objective on Koppers from $35.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Monness Crespi & Hardt lifted their target price on Koppers from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $42.33.

KOP traded down $0.03 on Friday, hitting $34.54. 77,349 shares of the company’s stock traded hands. The company’s 50 day simple moving average is $34.42 and its 200-day simple moving average is $32.53. Koppers has a one year low of $22.56 and a one year high of $44.75.

About Koppers

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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