The Manufacturers Life Insurance Company Sells 3,010 Shares of Koppers Holdings Inc. (NYSE:KOP)

The Manufacturers Life Insurance Company reduced its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 27.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,868 shares of the specialty chemicals company’s stock after selling 3,010 shares during the period. The Manufacturers Life Insurance Company’s holdings in Koppers were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd lifted its stake in shares of Koppers by 30.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 37,671 shares of the specialty chemicals company’s stock worth $1,376,000 after acquiring an additional 8,871 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Koppers by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,871 shares of the specialty chemicals company’s stock worth $15,521,000 after acquiring an additional 20,586 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Koppers during the 3rd quarter worth approximately $4,022,000. Pzena Investment Management LLC lifted its stake in shares of Koppers by 91.8% during the 3rd quarter. Pzena Investment Management LLC now owns 770,169 shares of the specialty chemicals company’s stock worth $28,134,000 after acquiring an additional 368,709 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Koppers during the 3rd quarter worth approximately $337,000. 92.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KOP. Barrington Research reissued an “outperform” rating and set a $64.00 price target on shares of Koppers in a research note on Tuesday, November 12th. Singular Research raised Koppers to a “strong-buy” rating in a research report on Friday, September 20th. Finally, StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Insider Buying and Selling

In other Koppers news, CEO M Leroy Ball sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.92, for a total value of $189,600.00. Following the completion of the transaction, the chief executive officer now owns 315,129 shares of the company’s stock, valued at approximately $11,949,691.68. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen R. Tritch sold 3,533 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total transaction of $131,003.64. Following the completion of the transaction, the director now directly owns 47,737 shares of the company’s stock, valued at approximately $1,770,087.96. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,533 shares of company stock worth $544,164 in the last 90 days. 6.55% of the stock is owned by corporate insiders.

Koppers Trading Up 0.1 %

Shares of NYSE KOP opened at $33.81 on Monday. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The business has a fifty day simple moving average of $36.59 and a two-hundred day simple moving average of $37.53. The firm has a market cap of $685.33 million, a PE ratio of 9.61 and a beta of 1.83. Koppers Holdings Inc. has a twelve month low of $33.38 and a twelve month high of $58.23.

Koppers (NYSE:KOP) last issued its quarterly earnings data on Friday, November 8th. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Koppers had a return on equity of 16.71% and a net margin of 3.55%. The firm had revenue of $554.30 million during the quarter, compared to analysts’ expectations of $571.80 million. During the same period in the prior year, the business posted $1.32 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Analysts expect that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. Koppers’s dividend payout ratio (DPR) is presently 7.95%.

Koppers Company 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.