Koppers Holdings Inc. (NYSE:KOP) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in Koppers Holdings Inc. (NYSE:KOP) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,545 shares of the specialty chemicals company’s stock after selling 13,324 shares during the quarter. Federated Hermes Inc. owned approximately 0.40% of Koppers worth $4,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rubric Capital Management LP lifted its holdings in Koppers by 6.9% in the third quarter. Rubric Capital Management LP now owns 1,138,592 shares of the specialty chemicals company’s stock worth $45,031,000 after acquiring an additional 73,151 shares during the last quarter. Invesco Ltd. boosted its position in Koppers by 29.2% during the 3rd quarter. Invesco Ltd. now owns 462,789 shares of the specialty chemicals company’s stock valued at $18,303,000 after purchasing an additional 104,590 shares during the period. Assenagon Asset Management S.A. grew its stake in Koppers by 326.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,753 shares of the specialty chemicals company’s stock worth $4,894,000 after buying an additional 94,732 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Koppers by 41.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,922 shares of the specialty chemicals company’s stock worth $4,606,000 after buying an additional 26,195 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Koppers by 22.7% in the third quarter. Acadian Asset Management LLC now owns 66,193 shares of the specialty chemicals company’s stock valued at $2,616,000 after buying an additional 12,254 shares during the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Koppers

In other news, SVP Leslie S. Hyde sold 22,403 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $53.91, for a total transaction of $1,207,745.73. Following the sale, the senior vice president now owns 55,658 shares in the company, valued at $3,000,522.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Leslie S. Hyde sold 22,403 shares of Koppers stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $53.91, for a total transaction of $1,207,745.73. Following the transaction, the senior vice president now owns 55,658 shares in the company, valued at $3,000,522.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James A. Sullivan sold 700 shares of Koppers stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.01, for a total value of $37,807.00. Following the transaction, the chief operating officer now directly owns 111,192 shares in the company, valued at approximately $6,005,479.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,591 shares of company stock valued at $1,700,094. 6.55% of the stock is currently owned by corporate insiders.

Koppers Stock Performance

Shares of KOP opened at $52.73 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of 12.71 and a beta of 1.86. The company has a quick ratio of 0.93, a current ratio of 2.14 and a debt-to-equity ratio of 1.66. The firm has a 50-day moving average price of $53.88 and a 200 day moving average price of $48.26. Koppers Holdings Inc. has a 52-week low of $28.45 and a 52-week high of $58.23.

Koppers (NYSE:KOP) last released its quarterly earnings data on Wednesday, February 28th. The specialty chemicals company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.05). The company had revenue of $513.20 million for the quarter, compared to the consensus estimate of $483.67 million. Koppers had a return on equity of 20.10% and a net margin of 4.14%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. On average, sell-side analysts anticipate that Koppers Holdings Inc. will post 4.57 earnings per share for the current fiscal year.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Koppers’s previous quarterly dividend of $0.06. Koppers’s payout ratio is presently 6.75%.

Analysts Set New Price Targets

KOP has been the topic of a number of analyst reports. Singular Research raised shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 price objective on the stock in a report on Wednesday, March 13th. StockNews.com lowered shares of Koppers from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Barrington Research reiterated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.