State Street Corp Has $28.17 Million Stock Position in Koppers Holdings Inc. (NYSE:KOP)

State Street Corp reduced its stake in Koppers Holdings Inc. (NYSE:KOP) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 771,184 shares of the specialty chemicals company’s stock after selling 7,756 shares during the quarter. State Street Corp owned about 3.80% of Koppers worth $28,171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KOP. Pzena Investment Management LLC increased its stake in shares of Koppers by 91.8% during the third quarter. Pzena Investment Management LLC now owns 770,169 shares of the specialty chemicals company’s stock worth $28,134,000 after purchasing an additional 368,709 shares during the period. Millennium Management LLC increased its position in Koppers by 586.8% during the 2nd quarter. Millennium Management LLC now owns 196,704 shares of the specialty chemicals company’s stock worth $7,276,000 after buying an additional 168,063 shares during the period. Foundry Partners LLC acquired a new stake in shares of Koppers during the third quarter worth $4,022,000. Principal Financial Group Inc. lifted its holdings in shares of Koppers by 20.7% during the third quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company’s stock worth $20,778,000 after buying an additional 97,586 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Koppers by 137.9% in the third quarter. Empowered Funds LLC now owns 102,586 shares of the specialty chemicals company’s stock valued at $3,747,000 after acquiring an additional 59,460 shares during the period. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Koppers

In other news, CEO M Leroy Ball sold 5,000 shares of the stock in a transaction dated 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 represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen R. Tritch sold 3,533 shares of Koppers stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $37.08, for a total transaction of $131,003.64. Following the sale, the director now directly owns 47,737 shares in the company, valued at $1,770,087.96. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,533 shares of company stock valued at $544,164. 6.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Koppers Stock Down 1.1 %

Shares of NYSE KOP opened at $31.01 on Friday. The stock has a market capitalization of $628.54 million, a P/E ratio of 8.81 and a beta of 1.83. The stock’s fifty day moving average is $36.09 and its 200 day moving average is $37.19. Koppers Holdings Inc. has a 52 week low of $30.64 and a 52 week high of $58.23. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54.

Koppers (NYSE:KOP) last released its earnings results on Friday, November 8th. The specialty chemicals company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.25 by $0.12. The firm had revenue of $554.30 million for the quarter, compared to analyst estimates of $571.80 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. Sell-side analysts forecast that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, November 29th. Koppers’s payout ratio 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.