State Street Corp Has $28.17 Million Stock Holdings in Koppers Holdings Inc. (NYSE:KOP)

State Street Corp lowered its position in Koppers Holdings Inc. (NYSE:KOP) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 771,184 shares of the specialty chemicals company’s stock after selling 7,756 shares during the quarter. State Street Corp’s holdings in Koppers were worth $28,171,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Koppers in the 3rd quarter valued at approximately $161,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Koppers by 314.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 44,570 shares of the specialty chemicals company’s stock worth $1,628,000 after purchasing an additional 33,817 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Koppers by 277.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,520 shares of the specialty chemicals company’s stock valued at $56,000 after purchasing an additional 1,117 shares during the period. Martingale Asset Management L P raised its position in Koppers by 62.4% during the 3rd quarter. Martingale Asset Management L P now owns 11,206 shares of the specialty chemicals company’s stock worth $409,000 after purchasing an additional 4,306 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Koppers by 30.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 37,671 shares of the specialty chemicals company’s stock worth $1,376,000 after buying an additional 8,871 shares during the period. Institutional investors own 92.75% of the company’s stock.

Koppers Stock Performance

Shares of KOP opened at $31.01 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83. The firm’s fifty day simple moving average is $36.09 and its two-hundred day simple moving average is $37.19. Koppers Holdings Inc. has a 12 month low of $30.64 and a 12 month high of $58.23. The stock has a market capitalization of $628.54 million, a P/E ratio of 8.81 and a beta of 1.83.

Koppers (NYSE:KOP) last announced its earnings results on Friday, November 8th. The specialty chemicals company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.25 by $0.12. The company had revenue of $554.30 million for the quarter, compared to analyst estimates of $571.80 million. Koppers had a return on equity of 16.71% and a net margin of 3.55%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.32 EPS. As a group, analysts predict that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, November 29th. Koppers’s dividend payout ratio (DPR) is 7.95%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KOP. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Singular Research raised shares of Koppers to a “strong-buy” rating in a research 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 report on Tuesday, November 12th.

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.