Allspring Global Investments Holdings LLC Sells 23,717 Shares of Koppers Holdings Inc. (NYSE:KOP)

Allspring Global Investments Holdings LLC reduced its holdings in Koppers Holdings Inc. (NYSE:KOP) by 75.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,769 shares of the specialty chemicals company’s stock after selling 23,717 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Koppers were worth $252,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KOP. Pzena Investment Management LLC lifted its position in shares of Koppers by 91.8% in the 3rd 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. Principal Financial Group Inc. lifted its stake in shares of Koppers by 20.7% in the 3rd quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company’s stock valued at $20,778,000 after purchasing an additional 97,586 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Koppers by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,871 shares of the specialty chemicals company’s stock valued at $15,521,000 after purchasing an additional 20,586 shares in the last quarter. Hennessy Advisors Inc. grew its stake in Koppers by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 184,500 shares of the specialty chemicals company’s stock worth $5,978,000 after purchasing an additional 11,800 shares during the period. Finally, Foundry Partners LLC bought a new position in Koppers in the third quarter worth $4,022,000. 92.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KOP. Barrington Research restated an “outperform” rating and set a $64.00 target price on shares of Koppers in a report on Monday. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Koppers Price Performance

KOP stock opened at $31.96 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54. The company’s fifty day moving average price is $30.94 and its 200-day moving average price is $34.73. Koppers Holdings Inc. has a one year low of $28.57 and a one year high of $58.23. The company has a market capitalization of $647.80 million, a PE ratio of 9.08 and a beta of 1.83.

Koppers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.32 annualized dividend and a yield of 1.00%. This is an increase from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is presently 9.09%.

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.