Koppers Holdings Inc. (NYSE:KOP) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in Koppers Holdings Inc. (NYSE:KOP) by 160.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,886 shares of the specialty chemicals company’s stock after purchasing an additional 5,469 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Koppers were worth $303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in Koppers in the 2nd quarter worth $331,000. Acadian Asset Management LLC raised its stake in Koppers by 25.8% in the 1st quarter. Acadian Asset Management LLC now owns 70,982 shares of the specialty chemicals company’s stock worth $2,480,000 after acquiring an additional 14,567 shares during the last quarter. SG Americas Securities LLC purchased a new position in Koppers in the 1st quarter worth $362,000. Barclays PLC raised its stake in Koppers by 60.7% in the 1st quarter. Barclays PLC now owns 15,988 shares of the specialty chemicals company’s stock worth $559,000 after acquiring an additional 6,038 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Koppers by 33.4% in the 1st quarter. Principal Financial Group Inc. now owns 461,186 shares of the specialty chemicals company’s stock worth $16,128,000 after acquiring an additional 115,565 shares during the last quarter. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Koppers Stock Performance

NYSE KOP opened at $41.36 on Friday. The stock has a 50-day simple moving average of $38.24 and a two-hundred day simple moving average of $35.84. The firm has a market capitalization of $861.12 million, a P/E ratio of 9.82 and a beta of 1.84. Koppers Holdings Inc. has a fifty-two week low of $27.44 and a fifty-two week high of $41.91. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.05 and a current ratio of 2.24.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Friday, November 3rd. The specialty chemicals company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. Koppers had a return on equity of 23.16% and a net margin of 4.24%. The firm had revenue of $550.40 million during the quarter, compared to analyst estimates of $555.75 million. During the same quarter in the previous year, the business earned $1.19 EPS. Koppers’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Koppers Holdings Inc. will post 4.49 earnings per share for the current year.

Koppers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 24th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.58%. Koppers’s dividend payout ratio is presently 5.70%.

Insider Activity at Koppers

In related news, CEO M Leroy Ball sold 2,000 shares of Koppers stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $38.59, for a total value of $77,180.00. Following the completion of the transaction, the chief executive officer now owns 298,921 shares in the company, valued at approximately $11,535,361.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO M Leroy Ball sold 2,000 shares of Koppers stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $38.59, for a total value of $77,180.00. Following the sale, the chief executive officer now directly owns 298,921 shares in the company, valued at approximately $11,535,361.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Leslie S. Hyde sold 2,351 shares of Koppers stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $40.00, for a total value of $94,040.00. Following the completion of the sale, the senior vice president now owns 50,386 shares in the company, valued at $2,015,440. The disclosure for this sale can be found here. Insiders sold a total of 14,803 shares of company stock worth $594,317 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com began coverage on Koppers in a research note on Thursday, October 5th. They issued a “hold” rating for the company. B. Riley reiterated a “buy” rating and set a $50.00 price objective on shares of Koppers in a research note on Friday, September 15th. Finally, Barrington Research reiterated an “outperform” rating and set a $45.00 price objective on shares of Koppers in a research note on Monday, September 18th.

About Koppers

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 three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).The RUPS segment procures and treats crossties, switch ties, and various types of lumber used for railroad bridges and crossings.