Koppers Holdings Inc. (NYSE:KOP) Short Interest Update

Koppers Holdings Inc. (NYSE:KOP) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 288,500 shares, a growth of 12.8% from the September 30th total of 255,800 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 149,800 shares, the days-to-cover ratio is presently 1.9 days.

Koppers Stock Performance

Shares of NYSE:KOP traded down $0.29 during trading on Thursday, reaching $34.01. 78,142 shares of the company’s stock traded hands, compared to its average volume of 146,568. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.53 and a quick ratio of 1.12. The company has a 50 day moving average of $36.77 and a 200-day moving average of $39.98. Koppers has a 12 month low of $33.80 and a 12 month high of $58.23. The stock has a market capitalization of $721.01 million, a P/E ratio of 9.58 and a beta of 1.84.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.09. The business had revenue of $563.20 million for the quarter, compared to analysts’ expectations of $589.17 million. Koppers had a return on equity of 17.16% and a net margin of 3.72%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. On average, equities analysts expect that Koppers will post 4.05 EPS for the current year.

Koppers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, August 30th. Koppers’s payout ratio is 7.89%.

Wall Street Analysts Forecast Growth

KOP has been the subject of a number of research analyst reports. Singular Research upgraded Koppers to a “strong-buy” rating in a report on Friday, September 20th. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a report on Monday, August 12th.

Insider Transactions at Koppers

In other news, VP Joseph P. Dowd sold 5,516 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the completion of the sale, the vice president now owns 10,300 shares of the company’s stock, valued at approximately $388,516. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.55% of the company’s stock.

Hedge Funds Weigh In On Koppers

Several institutional investors have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its stake in 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 purchasing an additional 236 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Koppers by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 12,767 shares of the specialty chemicals company’s stock worth $704,000 after buying an additional 302 shares during the period. The Manufacturers Life Insurance Company grew its holdings 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 in the last quarter. Louisiana State Employees Retirement System increased its position in 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 valued at $396,000 after acquiring an additional 400 shares during the period. Finally, Federated Hermes Inc. raised its stake in 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 acquiring an additional 423 shares in the last quarter. Institutional investors own 92.75% of the company’s stock.

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.