Geode Capital Management LLC Cuts Holdings in Koppers Holdings Inc. $KOP

Geode Capital Management LLC lowered its holdings in Koppers Holdings Inc. (NYSE:KOP) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,153 shares of the specialty chemicals company’s stock after selling 9,069 shares during the quarter. Geode Capital Management LLC owned 2.31% of Koppers worth $14,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KOP. LSV Asset Management increased its holdings in Koppers by 19.9% in the 1st quarter. LSV Asset Management now owns 758,661 shares of the specialty chemicals company’s stock worth $21,243,000 after buying an additional 125,799 shares in the last quarter. Voya Investment Management LLC lifted its stake in Koppers by 33.9% during the 1st quarter. Voya Investment Management LLC now owns 19,105 shares of the specialty chemicals company’s stock valued at $535,000 after acquiring an additional 4,840 shares during the period. Invenomic Capital Management LP purchased a new stake in shares of Koppers during the 1st quarter valued at about $1,143,000. Pzena Investment Management LLC boosted its holdings in shares of Koppers by 2.2% during the 2nd quarter. Pzena Investment Management LLC now owns 1,248,032 shares of the specialty chemicals company’s stock valued at $40,124,000 after acquiring an additional 26,704 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Koppers by 17.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,069 shares of the specialty chemicals company’s stock worth $170,000 after acquiring an additional 902 shares during the period. 92.75% of the stock is owned by institutional investors.

Koppers Trading Down 0.2%

Shares of KOP stock opened at $29.61 on Tuesday. Koppers Holdings Inc. has a 1 year low of $22.99 and a 1 year high of $39.46. The firm has a fifty day moving average price of $28.04 and a 200-day moving average price of $30.12. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.60 and a quick ratio of 1.11. The company has a market cap of $580.77 million, a price-to-earnings ratio of 41.13 and a beta of 1.45.

Koppers (NYSE:KOP) last released its earnings results on Friday, November 7th. The specialty chemicals company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.04). Koppers had a net margin of 0.76% and a return on equity of 17.43%. The company had revenue of $485.30 million for the quarter, compared to analysts’ expectations of $516.50 million. During the same quarter last year, the firm posted $1.37 earnings per share. Koppers’s revenue for the quarter was down 12.4% on a year-over-year basis. Koppers has set its FY 2025 guidance at 4.000-4.150 EPS. As a group, equities analysts predict that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 28th. Koppers’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

KOP has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and set a $55.00 price objective on shares of Koppers in a research report on Tuesday, November 11th. Weiss Ratings cut Koppers from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Zacks Research raised Koppers from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Finally, B. Riley reiterated a “buy” rating and set a $50.00 price objective (down previously from $55.00) on shares of Koppers in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.50.

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 Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.