State of Alaska Department of Revenue Sells 737 Shares of Koppers Holdings Inc. (NYSE:KOP)

State of Alaska Department of Revenue cut its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,710 shares of the specialty chemicals company’s stock after selling 737 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Koppers worth $427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of Koppers by 91.7% in the 1st quarter. Acadian Asset Management LLC now owns 119,691 shares of the specialty chemicals company’s stock worth $6,601,000 after purchasing an additional 57,252 shares during the period. Sei Investments Co. boosted its stake in shares of Koppers by 78.6% during the 1st quarter. Sei Investments Co. now owns 65,018 shares of the specialty chemicals company’s stock worth $3,587,000 after acquiring an additional 28,605 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Koppers by 37.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 132,016 shares of the specialty chemicals company’s stock valued at $4,883,000 after acquiring an additional 35,741 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Koppers in the 2nd quarter worth $5,671,000. Finally, Natixis Advisors LLC bought a new position in Koppers in the 2nd quarter worth $700,000. 92.75% of the stock is owned by institutional investors.

Koppers Stock Down 2.1 %

Shares of KOP opened at $37.22 on Friday. The business’s 50 day moving average is $36.44 and its 200 day moving average is $39.24. The company has a current ratio of 2.53, a quick ratio of 1.12 and a debt-to-equity ratio of 1.92. Koppers Holdings Inc. has a 12-month low of $33.80 and a 12-month high of $58.23. The company has a market capitalization of $763.75 million, a PE ratio of 10.20 and a beta of 1.84.

Koppers (NYSE:KOP) last issued its earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.09. The firm had revenue of $563.20 million during 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%. Koppers’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Research analysts expect that Koppers Holdings Inc. will post 4.05 earnings per share for the current fiscal year.

Koppers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 29th. Koppers’s payout ratio is 7.67%.

Insider Transactions at Koppers

In related news, VP Joseph P. Dowd sold 5,516 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the completion of the transaction, the vice president now directly owns 10,300 shares of the company’s stock, valued at approximately $388,516. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on KOP shares. Singular Research raised Koppers to a “strong-buy” rating in a research note on Friday, September 20th. Barrington Research restated an “outperform” rating and set a $64.00 target price on shares of Koppers in a research note on Monday, November 4th.

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.