Smart Money Remains Confident in Koppers Holdings Inc. (KOP)

As aggregate interest increased, some big names were leading the bulls’ herd. Renaissance Technologies created the biggest position in Koppers Holdings Inc. (NYSE:KOP). Renaissance Technologies had $1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.8 million position during the quarter. The other funds with brand new KOP positions are Mike Vranos’ Ellington, Neil Chriss’ Hutchin Hill Capital, and Ken Gray and Steve Walsh’s Bryn Mawr Capital.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Koppers Holdings Inc. (NYSE:KOP) but similarly valued. These stocks are El Pollo LoCo Holdings Inc (NASDAQ:LOCO), Metro Bancorp Inc (NASDAQ:METR), Concert Pharmaceuticals Inc (NASDAQ:CNCE), and Hawkins, Inc. (NASDAQ:HWKN). This group of stocks’ market caps are similar to KOP’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $48 million. That figure was $60 million in KOP’s case. Concert Pharmaceuticals Inc (NASDAQ:CNCE) is the most popular stock in this table. On the other hand Hawkins, Inc. (NASDAQ:HWKN) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Koppers Holdings Inc. (NYSE:KOP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.