Waterfront Wealth Inc. cut its stake in Koppers Holdings Inc. (NYSE:KOP – Free Report) by 22.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,495 shares of the specialty chemicals company’s stock after selling 11,673 shares during the period. Waterfront Wealth Inc.’s holdings in Koppers were worth $1,605,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of KOP. Kestra Advisory Services LLC increased its position in Koppers by 25.3% during the 1st quarter. Kestra Advisory Services LLC now owns 5,297 shares of the specialty chemicals company’s stock valued at $205,000 after purchasing an additional 1,070 shares during the period. DGS Capital Management LLC purchased a new stake in shares of Koppers during the first quarter worth about $323,000. Pzena Investment Management LLC increased its stake in Koppers by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 1,209,376 shares of the specialty chemicals company’s stock valued at $46,779,000 after purchasing an additional 5,124 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Koppers in the 1st quarter valued at $348,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Koppers in the first quarter valued at about $337,000. Institutional investors own 92.75% of the company’s stock.
Koppers Stock Down 1.4%
Shares of NYSE:KOP opened at $46.72 on Friday. The company has a market capitalization of $898.33 million, a price-to-earnings ratio of 12.29, a PEG ratio of 11.47 and a beta of 1.25. Koppers Holdings Inc. has a 12-month low of $25.00 and a 12-month high of $48.63. The business has a 50-day moving average price of $42.84 and a 200 day moving average price of $36.97. The company has a current ratio of 2.71, a quick ratio of 1.11 and a debt-to-equity ratio of 1.67.
Koppers Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. Koppers’s payout ratio is presently 9.47%.
Insider Transactions at Koppers
In other Koppers news, CEO M Leroy Ball sold 3,412 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $43.90, for a total transaction of $149,786.80. Following the sale, the chief executive officer directly owned 436,243 shares in the company, valued at $19,151,067.70. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.28% of the stock is owned by company insiders.
Analyst Ratings Changes
KOP has been the topic of a number of research reports. Singular Research upgraded shares of Koppers to a “strong-buy” rating in a research note on Friday, May 15th. Barrington Research reaffirmed an “outperform” rating and set a $55.00 target price on shares of Koppers in a research note on Monday, May 4th. Weiss Ratings raised shares of Koppers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Koppers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Koppers presently has a consensus rating of “Moderate Buy” and an average price target of $52.50.
Read Our Latest Research Report on KOP
Koppers Profile
Koppers Company, Inc is a global specialty chemicals and materials manufacturer serving diverse industrial markets. The company operates through two primary segments: Carbon Materials & Chemicals, which produces a range of coal tar–based products, phenolic specialties and carbon compounds; and Railroad Products & Services, which offers wood treating and infrastructure services for rail and utility customers.
In its Carbon Materials & Chemicals segment, Koppers supplies coal tar pitch, refined creosote, coal tar‐based distillates and phenolic resins used in aluminum smelting, graphite electrode manufacture, carbon fiber production, and water treatment applications.
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