Insider Selling: Koppers Holdings Inc. (NYSE:KOP) CEO Sells $77,180.00 in Stock

Posted by Defense World Staff on Sep 3rd, 2023

Koppers Holdings Inc. (NYSE:KOP – Get Free Report) CEO M Leroy Ball sold 2,000 shares of Koppers stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $38.59, for a total value of $77,180.00. Following the completion of the transaction, the chief executive officer now directly owns 298,921 shares in the company, valued at approximately $11,535,361.39. The sale was disclosed in a document filed with the SEC, which is available at this link.

Koppers Trading Up 4.2 %

NYSE:KOP opened at $39.90 on Friday. The stock has a market cap of $832.79 million, a PE ratio of 10.23 and a beta of 1.87. The stock’s 50-day moving average is $36.80 and its two-hundred day moving average is $34.40. Koppers Holdings Inc. has a fifty-two week low of $20.11 and a fifty-two week high of $40.03. The company has a debt-to-equity ratio of 1.98, a current ratio of 2.43 and a quick ratio of 1.16.

Koppers (NYSE:KOP – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.08 by $0.18. The business had revenue of $577.20 million during the quarter, compared to analysts’ expectations of $531.00 million. Koppers had a return on equity of 23.76% and a net margin of 3.93%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. As a group, equities research analysts forecast that Koppers Holdings Inc. will post 4.4 earnings per share for the current fiscal year.

Koppers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.24 annualized dividend and a yield of 0.60%. Koppers’s dividend payout ratio (DPR) is presently 6.15%.

Hedge Funds Weigh In On Koppers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOP. Fuller & Thaler Asset Management Inc. grew its holdings in Koppers by 9.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,126,729 shares of the specialty chemicals company’s stock valued at $58,528,000 after purchasing an additional 181,916 shares during the last quarter. Millennium Management LLC grew its holdings in Koppers by 225.4% during the second quarter. Millennium Management LLC now owns 221,056 shares of the specialty chemicals company’s stock valued at $5,005,000 after purchasing an additional 153,118 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Koppers by 33.4% during the first quarter. Principal Financial Group Inc. now owns 461,186 shares of the specialty chemicals company’s stock valued at $16,128,000 after purchasing an additional 115,565 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Koppers by 14.7% during the first quarter. Pzena Investment Management LLC now owns 577,311 shares of the specialty chemicals company’s stock valued at $20,189,000 after purchasing an additional 74,015 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Koppers by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 974,874 shares of the specialty chemicals company’s stock valued at $34,090,000 after purchasing an additional 72,360 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on KOP shares. Barrington Research lifted their target price on Koppers from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. StockNews.com started coverage on Koppers in a research note on Thursday, August 17th. They set a “hold” rating on the stock.

Check Out Our Latest Report on Koppers

About Koppers

(Get Free Report)

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 three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).The RUPS segment procures and treats crossties, switch ties, and various types of lumber used for railroad bridges and crossings.