Pzena Investment Management LLC Sells 30,985 Shares of Koppers Holdings Inc. (NYSE:KOP)

Pzena Investment Management LLC trimmed its position in shares of Koppers Holdings Inc. (NYSE:KOPFree Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 532,573 shares of the specialty chemicals company’s stock after selling 30,985 shares during the quarter. Pzena Investment Management LLC owned approximately 2.56% of Koppers worth $27,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KOP. Allspring Global Investments Holdings LLC lifted its holdings in Koppers by 617.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 63,727 shares of the specialty chemicals company’s stock valued at $2,520,000 after buying an additional 54,841 shares during the period. Teacher Retirement System of Texas raised its holdings in Koppers by 53.9% in the third quarter. Teacher Retirement System of Texas now owns 26,001 shares of the specialty chemicals company’s stock worth $1,028,000 after purchasing an additional 9,103 shares during the period. Assenagon Asset Management S.A. raised its holdings in Koppers by 326.4% in the third quarter. Assenagon Asset Management S.A. now owns 123,753 shares of the specialty chemicals company’s stock worth $4,894,000 after purchasing an additional 94,732 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Koppers in the third quarter worth $489,000. Finally, Arizona State Retirement System acquired a new stake in Koppers in the third quarter worth $235,000. 92.75% of the stock is owned by institutional investors.

Koppers Stock Down 0.8 %

Koppers stock traded down $0.37 during mid-day trading on Thursday, reaching $43.52. The company’s stock had a trading volume of 13,620 shares, compared to its average volume of 139,172. The company has a market capitalization of $922.62 million, a price-to-earnings ratio of 12.39 and a beta of 1.86. Koppers Holdings Inc. has a 12 month low of $28.45 and a 12 month high of $58.23. The business’s 50 day simple moving average is $51.29 and its 200 day simple moving average is $49.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.00 and a current ratio of 2.29.

Koppers (NYSE:KOPGet Free Report) last released its earnings results on Friday, May 3rd. The specialty chemicals company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Koppers had a net margin of 3.59% and a return on equity of 17.19%. The business had revenue of $497.60 million during the quarter, compared to the consensus estimate of $497.00 million. During the same quarter last year, the firm earned $1.12 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Koppers Holdings Inc. will post 4.51 earnings per share for the current year.

Koppers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, May 23rd. Koppers’s dividend payout ratio (DPR) is presently 7.89%.

Analysts Set New Price Targets

KOP has been the subject of several research reports. Barrington Research reissued an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research report on Friday, May 3rd. Singular Research raised shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 price objective for the company in a research report on Wednesday, March 13th.

Get Our Latest Stock Analysis on Koppers

Insider Activity

In other news, CEO M Leroy Ball sold 5,000 shares of Koppers stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $53.51, for a total value of $267,550.00. Following the completion of the transaction, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Leslie S. Hyde sold 22,403 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $53.91, for a total transaction of $1,207,745.73. Following the completion of the sale, the senior vice president now owns 55,658 shares in the company, valued at approximately $3,000,522.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO M Leroy Ball sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $53.51, for a total transaction of $267,550.00. Following the sale, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The disclosure for this sale can be found here. Insiders sold a total of 31,591 shares of company stock valued at $1,700,094 in the last quarter. Company insiders own 6.55% of the company’s stock.

Koppers Profile

(Free Report)

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.

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Institutional Ownership by Quarter for Koppers (NYSE:KOP)

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