Texas Permanent School Fund Corp Decreases Holdings in Koppers Holdings Inc. (NYSE:KOP)

Texas Permanent School Fund Corp decreased its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,585 shares of the specialty chemicals company’s stock after selling 2,639 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Koppers worth $576,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Quadrature Capital Ltd increased its stake in shares of Koppers by 1.7% in the fourth quarter. Quadrature Capital Ltd now owns 15,379 shares of the specialty chemicals company’s stock worth $788,000 after acquiring an additional 251 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Koppers by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 12,767 shares of the specialty chemicals company’s stock worth $704,000 after acquiring an additional 302 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Koppers by 3.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the specialty chemicals company’s stock worth $396,000 after acquiring an additional 400 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Koppers by 4.1% in the second quarter. Harbor Capital Advisors Inc. now owns 10,972 shares of the specialty chemicals company’s stock worth $406,000 after acquiring an additional 434 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Koppers in the fourth quarter worth $26,000. Institutional investors and hedge funds own 92.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KOP shares. Barrington Research reissued an “outperform” rating and set a $64.00 price target on shares of Koppers in a report on Monday, August 12th. Singular Research raised shares of Koppers to a “strong-buy” rating in a report on Friday.

Koppers Stock Down 2.4 %

Shares of NYSE:KOP opened at $36.51 on Friday. Koppers Holdings Inc. has a 52-week low of $33.80 and a 52-week high of $58.23. The stock has a market cap of $774.01 million, a P/E ratio of 10.28 and a beta of 1.84. The business has a fifty day moving average of $37.71 and a two-hundred day moving average of $43.57. The company has a quick ratio of 1.12, a current ratio of 2.53 and a debt-to-equity ratio of 1.92.

Koppers (NYSE:KOP) last released its quarterly earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.27 by $0.09. The firm had revenue of $563.20 million for the quarter, compared to analyst estimates of $589.17 million. Koppers had a net margin of 3.72% and a return on equity of 17.16%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. On average, research analysts expect that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Friday, August 30th. Koppers’s payout ratio is 7.89%.

Insider Buying and Selling at Koppers

In other Koppers news, VP Joseph P. Dowd sold 5,516 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $37.72, for a total value of $208,063.52. Following the sale, the vice president now owns 10,300 shares of the company’s stock, valued at $388,516. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.55% of the stock is owned by corporate insiders.

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.