Geode Capital Management LLC Lowers Stock Holdings in Koppers Holdings Inc. $KOP

Geode Capital Management LLC lowered its position in Koppers Holdings Inc. (NYSE:KOP) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 463,153 shares of the specialty chemicals company’s stock after selling 9,069 shares during the period. Geode Capital Management LLC’s holdings in Koppers were worth $14,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. LSV Asset Management lifted its position in shares of Koppers by 19.9% in the first quarter. LSV Asset Management now owns 758,661 shares of the specialty chemicals company’s stock valued at $21,243,000 after acquiring an additional 125,799 shares in the last quarter. Voya Investment Management LLC grew its holdings in Koppers by 33.9% during the 1st quarter. Voya Investment Management LLC now owns 19,105 shares of the specialty chemicals company’s stock valued at $535,000 after buying an additional 4,840 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Koppers during the first quarter valued at approximately $1,143,000. PNC Financial Services Group Inc. lifted its holdings in shares of Koppers by 17.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,069 shares of the specialty chemicals company’s stock worth $170,000 after buying an additional 902 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its position in shares of Koppers by 2.2% during the second quarter. Pzena Investment Management LLC now owns 1,248,032 shares of the specialty chemicals company’s stock worth $40,124,000 after acquiring an additional 26,704 shares during the last quarter. 92.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of Koppers from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. B. Riley reaffirmed a “buy” rating and issued a $50.00 target price (down from $55.00) on shares of Koppers in a report on Monday, August 11th. Barrington Research reiterated an “outperform” rating and issued a $55.00 target price on shares of Koppers in a research report on Tuesday, November 11th. Finally, Weiss Ratings cut Koppers from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $52.50.

Koppers Price Performance

NYSE:KOP opened at $29.61 on Tuesday. The firm has a market capitalization of $580.77 million, a price-to-earnings ratio of 41.13 and a beta of 1.45. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.60 and a quick ratio of 1.11. The business has a 50 day simple moving average of $28.04 and a 200-day simple moving average of $30.12. Koppers Holdings Inc. has a 1 year low of $22.99 and a 1 year high of $39.46.

Koppers (NYSE:KOP) last released its quarterly earnings results on Friday, November 7th. The specialty chemicals company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.04). The company had revenue of $485.30 million for the quarter, compared to analysts’ expectations of $516.50 million. Koppers had a net margin of 0.76% and a return on equity of 17.43%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 EPS. Koppers has set its FY 2025 guidance at 4.000-4.150 EPS. Equities analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 28th. Koppers’s dividend payout ratio (DPR) is 40.00%.

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.