Koppers Holdings Inc. (NYSE:KOP) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P lifted its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 62.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,206 shares of the specialty chemicals company’s stock after buying an additional 4,306 shares during the quarter. Martingale Asset Management L P owned approximately 0.06% of Koppers worth $409,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Koppers by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,878 shares of the specialty chemicals company’s stock worth $402,000 after acquiring an additional 376 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Koppers by 3.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the specialty chemicals company’s stock valued at $396,000 after buying an additional 400 shares during the last quarter. Federated Hermes Inc. raised its stake in Koppers by 0.6% in the second quarter. Federated Hermes Inc. now owns 76,772 shares of the specialty chemicals company’s stock valued at $2,840,000 after buying an additional 423 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Koppers by 4.1% in the second quarter. Harbor Capital Advisors Inc. now owns 10,972 shares of the specialty chemicals company’s stock valued at $406,000 after buying an additional 434 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Koppers by 170.4% during the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 523 shares during the last quarter. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

Koppers Stock Down 3.1 %

KOP opened at $38.00 on Wednesday. The stock has a market capitalization of $770.22 million, a P/E ratio of 10.80 and a beta of 1.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54. Koppers Holdings Inc. has a one year low of $33.80 and a one year high of $58.23. The business’s 50-day simple moving average is $36.76 and its 200-day simple moving average is $38.01.

Koppers (NYSE:KOP) last issued its quarterly earnings data on Friday, November 8th. The specialty chemicals company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.12. The company had revenue of $554.30 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Analysts anticipate that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 29th. Koppers’s payout ratio is currently 7.95%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Koppers

In related news, Director Stephen R. Tritch sold 3,533 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total value of $131,003.64. Following the transaction, the director now owns 47,737 shares in the company, valued at $1,770,087.96. The trade was a 6.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO M Leroy Ball sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $189,600.00. Following the sale, the chief executive officer now directly owns 315,129 shares of the company’s stock, valued at $11,949,691.68. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,533 shares of company stock worth $544,164. 6.55% of the stock is owned by company insiders.

Koppers Company 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.