Principal Financial Group Inc. Has $8.37 Million Stake in Koppers Holdings Inc. (NYSE:KOP)

Principal Financial Group Inc. trimmed its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 34.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 298,797 shares of the specialty chemicals company’s stock after selling 159,509 shares during the quarter. Principal Financial Group Inc. owned 1.46% of Koppers worth $8,366,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Koppers by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 201,557 shares of the specialty chemicals company’s stock worth $6,530,000 after buying an additional 1,596 shares in the last quarter. US Bancorp DE grew its holdings in Koppers by 145.1% during the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company’s stock worth $66,000 after buying an additional 1,200 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Koppers by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 30,600 shares of the specialty chemicals company’s stock worth $991,000 after buying an additional 2,600 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Koppers during the fourth quarter worth $482,000. Finally, Amundi grew its holdings in Koppers by 205.0% during the fourth quarter. Amundi now owns 12,271 shares of the specialty chemicals company’s stock worth $372,000 after buying an additional 8,248 shares in the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KOP has been the subject of several recent research reports. Wall Street Zen upgraded Koppers from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Barrington Research reiterated an “outperform” rating and set a $64.00 price target on shares of Koppers in a report on Tuesday, May 13th.

Koppers Trading Down 1.0%

Shares of Koppers stock opened at $33.68 on Tuesday. Koppers Holdings Inc. has a 1 year low of $22.99 and a 1 year high of $41.64. The firm has a market cap of $673.92 million, a PE ratio of 29.03 and a beta of 1.49. The stock has a fifty day moving average price of $31.35 and a 200-day moving average price of $29.71. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.64 and a quick ratio of 1.10.

Koppers (NYSE:KOP) last announced its earnings results on Friday, May 9th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.15. Koppers had a return on equity of 17.41% and a net margin of 1.24%. The firm had revenue of $456.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts anticipate that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, May 30th. Koppers’s dividend payout ratio is presently 27.59%.

Koppers 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.