Millennium Management LLC boosted its holdings in shares of Koppers Holdings Inc. (NYSE:KOP – Free Report) by 586.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,704 shares of the specialty chemicals company’s stock after purchasing an additional 168,063 shares during the quarter. Millennium Management LLC owned about 0.93% of Koppers worth $7,276,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of KOP. Texas Permanent School Fund Corp raised its position in shares of Koppers by 1.3% during 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 buying an additional 236 shares in the last quarter. Quadrature Capital Ltd raised its position in Koppers by 1.7% during the fourth quarter. Quadrature Capital Ltd now owns 15,379 shares of the specialty chemicals company’s stock valued at $788,000 after purchasing an additional 251 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Koppers by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,767 shares of the specialty chemicals company’s stock valued at $704,000 after purchasing an additional 302 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Koppers by 3.9% in 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 during the period. Finally, Federated Hermes Inc. increased 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 valued at $2,840,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 92.75% of the company’s stock.
Koppers Price Performance
Shares of KOP stock opened at $36.52 on Thursday. The stock has a 50 day moving average price of $37.02 and a 200 day moving average price of $42.05. Koppers Holdings Inc. has a 52-week low of $33.80 and a 52-week high of $58.23. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.12 and a current ratio of 2.53. The firm has a market capitalization of $774.22 million, a P/E ratio of 10.29 and a beta of 1.84.
Koppers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, August 30th. Koppers’s dividend payout ratio (DPR) is presently 7.89%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on KOP. Barrington Research restated an “outperform” rating and issued a $64.00 price target 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 report on Friday, September 20th.
Insider Activity
In related news, VP Joseph P. Dowd sold 5,516 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $37.72, for a total value of $208,063.52. Following the transaction, the vice president now owns 10,300 shares of the company’s stock, valued at $388,516. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.55% of the company’s stock.
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.
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