Rubric Capital Management LP Sells 211,171 Shares of Koppers Holdings Inc. (NYSE:KOP)

Rubric Capital Management LP cut its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 36.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 361,487 shares of the specialty chemicals company’s stock after selling 211,171 shares during the period. Rubric Capital Management LP owned approximately 1.71% of Koppers worth $13,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KOP. Dimensional Fund Advisors LP grew its position in shares of Koppers by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,180,134 shares of the specialty chemicals company’s stock valued at $60,448,000 after acquiring an additional 82,741 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Koppers during the 4th quarter valued at approximately $242,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Koppers during the 4th quarter valued at approximately $772,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Koppers during the 4th quarter valued at approximately $26,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Koppers by 1.7% during the 4th quarter. Quadrature Capital Ltd now owns 15,379 shares of the specialty chemicals company’s stock valued at $788,000 after buying an additional 251 shares in the last quarter. 92.75% of the stock is owned by institutional investors.

Insider Transactions at Koppers

In other news, VP Joseph P. Dowd sold 5,516 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 10,300 shares of the company’s stock, valued at approximately $388,516. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.55% of the company’s stock.

Wall Street Analysts Forecast Growth

KOP has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $64.00 target price on shares of Koppers in a research note on Monday, August 12th. Singular Research raised shares of Koppers to a “strong-buy” rating in a report on Friday.

Koppers Price Performance

Shares of NYSE:KOP opened at $36.54 on Friday. The firm has a market capitalization of $774.65 million, a price-to-earnings ratio of 10.29 and a beta of 1.84. Koppers Holdings Inc. has a one year low of $33.80 and a one year high of $58.23. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.53 and a quick ratio of 1.12. The company’s fifty day moving average price is $37.71 and its 200-day moving average price is $43.64.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.09. The business 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 company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. On average, equities research analysts anticipate that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Dividend Announcement

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

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.