Geode Capital Management LLC Lowers Stock Holdings in Koppers Holdings Inc. (NYSE:KOP)

Geode Capital Management LLC trimmed its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 468,899 shares of the specialty chemicals company’s stock after selling 773 shares during the period. Geode Capital Management LLC owned about 2.31% of Koppers worth $17,133,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC grew its position in Koppers by 356.9% during the 3rd quarter. Barclays PLC now owns 36,941 shares of the specialty chemicals company’s stock worth $1,350,000 after acquiring an additional 28,855 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Koppers by 345.6% during the third quarter. Public Employees Retirement System of Ohio now owns 2,905 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 2,253 shares during the period. Jane Street Group LLC grew its stake in shares of Koppers by 128.7% in the third quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock worth $2,212,000 after purchasing an additional 34,074 shares during the last quarter. Villanova Investment Management Co LLC increased its holdings in Koppers by 24.8% during the 3rd quarter. Villanova Investment Management Co LLC now owns 28,994 shares of the specialty chemicals company’s stock valued at $1,059,000 after purchasing an additional 5,758 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Koppers during the 3rd quarter valued at approximately $161,000. 92.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Koppers Trading Down 1.0 %

NYSE KOP opened at $31.94 on Monday. Koppers Holdings Inc. has a twelve month low of $30.64 and a twelve month high of $58.23. The stock’s 50 day moving average is $35.56 and its 200 day moving average is $36.79. The firm has a market capitalization of $647.39 million, a PE ratio of 9.07 and a beta of 1.83. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83.

Koppers (NYSE:KOP) last released its quarterly earnings data on Friday, November 8th. The specialty chemicals company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The business had revenue of $554.30 million during 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%. Koppers’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. Research analysts forecast that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.88%. Koppers’s payout ratio is 7.95%.

Insider Transactions at Koppers

In related news, CEO M Leroy Ball sold 6,000 shares of Koppers stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $37.26, for a total transaction of $223,560.00. Following the transaction, the chief executive officer now directly owns 314,325 shares in the company, valued at approximately $11,711,749.50. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Tritch sold 3,533 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total value of $131,003.64. Following the completion of the sale, the director now owns 47,737 shares of the company’s stock, valued at approximately $1,770,087.96. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,533 shares of company stock worth $544,164 in the last ninety days. Insiders own 6.55% of the company’s stock.

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.