The Manufacturers Life Insurance Company Buys 376 Shares of Koppers Holdings Inc. (NYSE:KOP)

The Manufacturers Life Insurance Company raised its stake in Koppers Holdings Inc. (NYSE:KOP) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,878 shares of the specialty chemicals company’s stock after acquiring an additional 376 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of Koppers worth $402,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Texas Permanent School Fund Corp raised its holdings in Koppers by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 18,224 shares of the specialty chemicals company’s stock valued at $1,005,000 after acquiring an additional 236 shares during the period. Quadrature Capital Ltd grew its position 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 worth $788,000 after purchasing an additional 251 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Koppers by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,767 shares of the specialty chemicals company’s stock worth $704,000 after purchasing an additional 302 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Koppers by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the specialty chemicals company’s stock worth $396,000 after purchasing an additional 400 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Koppers by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 76,772 shares of the specialty chemicals company’s stock worth $2,840,000 after purchasing an additional 423 shares in the last quarter. 92.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Joseph P. Dowd sold 5,516 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $37.72, for a total transaction of $208,063.52. Following the sale, the vice president now owns 10,300 shares in the company, valued at approximately $388,516. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.55% of the stock is currently owned by company insiders.

Koppers Stock Performance

Shares of NYSE:KOP opened at $37.47 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.53 and a debt-to-equity ratio of 1.92. The firm has a market cap of $794.36 million, a PE ratio of 10.55 and a beta of 1.84. The company’s 50 day moving average price is $37.12 and its two-hundred day moving average price is $41.42. Koppers Holdings Inc. has a 12-month low of $33.80 and a 12-month high of $58.23.

Koppers (NYSE:KOP) last posted its quarterly earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Equities research analysts predict that Koppers Holdings Inc. will post 4.05 earnings per share for the current year.

Koppers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.75%. Koppers’s dividend payout ratio is 7.89%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KOP. Barrington Research restated an “outperform” rating and set a $64.00 target price on shares of Koppers in a research report on Monday, August 12th. Singular Research upgraded shares of Koppers to a “strong-buy” rating in a research report on Friday, September 20th.

Koppers 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.