Victory Capital Management Inc. Sells 44,689 Shares of Koppers Holdings Inc. (NYSE:KOP)

Victory Capital Management Inc. lessened its stake in Koppers Holdings Inc. (NYSE:KOP) by 68.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,500 shares of the specialty chemicals company’s stock after selling 44,689 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Koppers worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Koppers by 91.7% in the 1st quarter. Acadian Asset Management LLC now owns 119,691 shares of the specialty chemicals company’s stock valued at $6,601,000 after acquiring an additional 57,252 shares in the last quarter. Sei Investments Co. grew its position in shares of Koppers by 78.6% during the 1st quarter. Sei Investments Co. now owns 65,018 shares of the specialty chemicals company’s stock worth $3,587,000 after buying an additional 28,605 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Koppers by 37.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 132,016 shares of the specialty chemicals company’s stock worth $4,883,000 after buying an additional 35,741 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Koppers during the 2nd quarter worth approximately $5,671,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Koppers during the 2nd quarter worth approximately $700,000. Institutional investors and hedge funds own 92.75% of the company’s stock.

Koppers Stock Down 2.4 %

Shares of NYSE KOP opened at $36.51 on Friday. The stock has a market cap of $774.01 million, a P/E ratio of 10.28 and a beta of 1.84. The firm has a 50 day moving average price of $37.71 and a 200 day moving average price of $43.57. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.12 and a current ratio of 2.53. Koppers Holdings Inc. has a 52-week low of $33.80 and a 52-week high of $58.23.

Koppers (NYSE:KOP) last issued its quarterly earnings data on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.09. The firm had revenue of $563.20 million during the quarter, compared to analysts’ expectations of $589.17 million. Koppers had a net margin of 3.72% and a return on equity of 17.16%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. Analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 30th. Koppers’s dividend payout ratio is currently 7.89%.

Insider Activity at Koppers

In other Koppers news, VP Joseph P. Dowd sold 5,516 shares of Koppers stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the transaction, the vice president now owns 10,300 shares of the company’s stock, valued at $388,516. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.55% of the company’s stock.

Wall Street Analysts Forecast Growth

KOP has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and set a $64.00 price target on shares of Koppers in a research report on Monday, August 12th. Singular Research upgraded shares of Koppers to a “strong-buy” rating in a research report on Friday.

Koppers Company Profile

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.