PNC Financial Services Group Inc. Purchases 902 Shares of Koppers Holdings Inc. $KOP

PNC Financial Services Group Inc. boosted its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,069 shares of the specialty chemicals company’s stock after purchasing an additional 902 shares during the period. PNC Financial Services Group Inc.’s holdings in Koppers were worth $170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Koppers by 101.1% in the 4th quarter. Renaissance Technologies LLC now owns 156,632 shares of the specialty chemicals company’s stock valued at $5,075,000 after acquiring an additional 78,732 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Koppers in the 4th quarter worth about $482,000. Jump Financial LLC bought a new position in Koppers in the fourth quarter valued at about $258,000. Dimensional Fund Advisors LP boosted its stake in shares of Koppers by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,237,486 shares of the specialty chemicals company’s stock valued at $40,094,000 after purchasing an additional 8,111 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Koppers by 67.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 16,330 shares of the specialty chemicals company’s stock worth $529,000 after purchasing an additional 6,573 shares during the last quarter. Institutional investors own 92.75% of the company’s stock.

Koppers Stock Performance

NYSE:KOP opened at $29.67 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.11 and a current ratio of 2.60. Koppers Holdings Inc. has a fifty-two week low of $22.99 and a fifty-two week high of $40.07. The company has a 50 day simple moving average of $32.40 and a two-hundred day simple moving average of $29.85. The company has a market capitalization of $585.05 million, a PE ratio of 41.21 and a beta of 1.40.

Koppers (NYSE:KOP) last posted its quarterly earnings data on Friday, August 8th. The specialty chemicals company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $504.80 million for the quarter, compared to analyst estimates of $540.30 million. Koppers had a return on equity of 17.43% and a net margin of 0.76%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. Research analysts anticipate that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 29th. Koppers’s payout ratio is presently 44.44%.

Wall Street Analysts Forecast Growth

KOP has been the topic of several recent research reports. Barrington Research cut their target price on shares of Koppers from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. B. Riley reaffirmed a “buy” rating and set a $50.00 target price (down from $55.00) on shares of Koppers in a research report on Monday, August 11th.

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.