Point72 Asset Management L.P. Makes New Investment in Koppers Holdings Inc. (NYSE:KOP)

Point72 Asset Management L.P. acquired a new position in shares of Koppers Holdings Inc. (NYSE:KOP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,400 shares of the specialty chemicals company’s stock, valued at approximately $161,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in Koppers by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,878 shares of the specialty chemicals company’s stock worth $402,000 after buying an additional 376 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings 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 acquiring an additional 400 shares during the period. Federated Hermes Inc. boosted its position in shares of Koppers by 0.6% in the second quarter. Federated Hermes Inc. now owns 76,772 shares of the specialty chemicals company’s stock worth $2,840,000 after acquiring an additional 423 shares during the last quarter. GAMMA Investing LLC grew its holdings in Koppers by 170.4% in the third quarter. GAMMA Investing LLC now owns 830 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Koppers by 1.2% during the second quarter. Panagora Asset Management Inc. now owns 43,110 shares of the specialty chemicals company’s stock worth $1,595,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 92.75% of the company’s stock.

Insider Activity

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

Koppers Trading Up 0.1 %

Shares of KOP stock opened at $33.81 on Friday. 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 Holdings Inc. has a fifty-two week low of $33.38 and a fifty-two week high of $58.23. The firm’s 50 day moving average price is $36.59 and its two-hundred day moving average price is $37.60. The stock has a market cap of $685.33 million, a price-to-earnings ratio of 9.61 and a beta of 1.83.

Koppers (NYSE:KOP) last posted its earnings results on Friday, November 8th. The specialty chemicals company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.12. Koppers had a net margin of 3.55% and a return on equity of 16.71%. The business had revenue of $554.30 million for the quarter, compared to analyst estimates of $571.80 million. During the same quarter in the previous year, the business posted $1.32 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.83%. Koppers’s dividend payout ratio (DPR) is currently 7.95%.

Analysts Set New Price Targets

KOP has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Koppers from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Singular Research upgraded Koppers to a “strong-buy” rating in a report on Friday, September 20th. Finally, Barrington Research restated an “outperform” rating and set a $64.00 price target on shares of Koppers in a research note on Tuesday, November 12th.

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.