Allspring Global Investments Holdings LLC Has $4.61 Million Stock Position in Koppers Holdings Inc. (NYSE:KOP)

Allspring Global Investments Holdings LLC lifted its stake in Koppers Holdings Inc. (NYSE:KOP) by 41.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,922 shares of the specialty chemicals company’s stock after buying an additional 26,195 shares during the period. Allspring Global Investments Holdings LLC owned about 0.43% of Koppers worth $4,606,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Koppers by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,474,003 shares of the specialty chemicals company’s stock worth $95,605,000 after buying an additional 19,214 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Koppers by 9.4% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,126,729 shares of the specialty chemicals company’s stock worth $58,528,000 after acquiring an additional 181,916 shares during the last quarter. Rubric Capital Management LP boosted its position in Koppers by 6.9% in the 3rd quarter. Rubric Capital Management LP now owns 1,138,592 shares of the specialty chemicals company’s stock valued at $45,031,000 after buying an additional 73,151 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Koppers by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 974,874 shares of the specialty chemicals company’s stock valued at $34,090,000 after buying an additional 72,360 shares during the last quarter. Finally, State Street Corp boosted its position in Koppers by 2.4% in the 2nd quarter. State Street Corp now owns 750,500 shares of the specialty chemicals company’s stock valued at $16,991,000 after buying an additional 17,421 shares during the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Koppers news, COO James A. Sullivan sold 700 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the sale, the chief operating officer now owns 111,192 shares of the company’s stock, valued at $6,005,479.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Joseph P. Dowd sold 3,488 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $53.61, for a total value of $186,991.68. Following the sale, the vice president now owns 36,969 shares in the company, valued at approximately $1,981,908.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James A. Sullivan sold 700 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the completion of the sale, the chief operating officer now owns 111,192 shares of the company’s stock, valued at approximately $6,005,479.92. The disclosure for this sale can be found here. Insiders have sold a total of 31,591 shares of company stock valued at $1,700,094 over the last 90 days. 6.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com lowered Koppers from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Barrington Research reaffirmed an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research note on Wednesday, February 28th. Finally, Singular Research raised Koppers from a “hold” rating to a “buy” rating and set a $67.50 price target on the stock in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Koppers Trading Up 0.2 %

Shares of NYSE:KOP opened at $53.28 on Friday. The company has a quick ratio of 0.93, a current ratio of 2.14 and a debt-to-equity ratio of 1.66. Koppers Holdings Inc. has a 12-month low of $28.45 and a 12-month high of $58.23. The business has a 50 day moving average of $53.68 and a 200-day moving average of $47.74. The stock has a market cap of $1.12 billion, a PE ratio of 12.84 and a beta of 1.86.

Koppers (NYSE:KOP) last announced its quarterly earnings data on Wednesday, February 28th. The specialty chemicals company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.05). Koppers had a net margin of 4.14% and a return on equity of 20.10%. The firm had revenue of $513.20 million for the quarter, compared to analyst estimates of $483.67 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Koppers Holdings Inc. will post 4.57 earnings per share for the current year.

Koppers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Koppers’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.53%. Koppers’s dividend payout ratio is 6.75%.

About Koppers

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.