Mountain Lake Investment Management Lowers stake in Koppers Holdings (KOP)

Koppers Holdings (KOP) : Mountain Lake Investment Management reduced its stake in Koppers Holdings by 11.96% during the most recent quarter end. The investment management company now holds a total of 475,000 shares of Koppers Holdings which is valued at $17,527,500 after selling 64,500 shares in Koppers Holdings , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Koppers Holdings makes up approximately 9.61% of Mountain Lake Investment Management’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in KOP in the latest quarter, The investment management firm added 52,845 additional shares and now holds a total of 347,117 shares of Koppers Holdings which is valued at $12,808,617. Koppers Holdings makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.Rhumbline Advisers boosted its stake in KOP in the latest quarter, The investment management firm added 1,672 additional shares and now holds a total of 30,982 shares of Koppers Holdings which is valued at $1,005,366.Blackrock Institutional Trust Company N.a. boosted its stake in KOP in the latest quarter, The investment management firm added 12,962 additional shares and now holds a total of 533,554 shares of Koppers Holdings which is valued at $17,313,827.Texas Permanent School Fund reduced its stake in KOP by selling 35 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 15,733 shares of KOP which is valued at $508,176. Koppers Holdings makes up approx 0.01% of Texas Permanent School Fund’s portfolio.

Koppers Holdings opened for trading at $37.75 and hit $37.8 on the upside on Monday, eventually ending the session at $37.75, with a gain of 0.40% or 0.15 points. The heightened volatility saw the trading volume jump to 1,37,823 shares. Company has a market cap of $780 M.

On the company’s financial health, Koppers Holdings reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.65. The company had revenue of $371.10 million for the quarter, compared to analysts expectations of $373.40 million. The company’s revenue was down -14.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Koppers Holdings Inc. (Koppers) is an integrated global provider of carbon compounds chemicals and treated wood products and services. Koppers’ products and services are used in various end-markets including the aluminum railroad specialty chemical utility rubber concrete steel residential lumber and agricultural industries. Koppers operates through three segments: Carbon Materials and Chemicals (CMC) Railroad and Utility Products and Services (RUPS) and Performance Chemicals (PC). The CMC segment is primarily a manufacturer of carbon pitch naphthalene phthalic anhydride creosote and carbon black feedstock. The RUPS segment sells treated and untreated wood products manufactured products and services primarily to the railroad and public utility markets. The PC segment sells preservatives for residential and agricultural treated lumber that includes decking and fencing. Koppers has manufacturing facilities in North America South America Australasia China and Europe.

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