Pzena Investment Management LLC Purchases 368,709 Shares of Koppers Holdings Inc. (NYSE:KOP)

Pzena Investment Management LLC increased its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 91.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 770,169 shares of the specialty chemicals company’s stock after purchasing an additional 368,709 shares during the period. Pzena Investment Management LLC owned about 3.75% of Koppers worth $28,134,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Koppers by 170.4% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 523 shares during the period. nVerses Capital LLC bought a new stake in Koppers in the second quarter valued at $37,000. Meeder Asset Management Inc. acquired a new stake in shares of Koppers in the 3rd quarter valued at $37,000. KBC Group NV increased its holdings in shares of Koppers by 83.8% during the third quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 549 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Koppers in the second quarter valued at approximately $45,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KOP. Singular Research upgraded Koppers to a “strong-buy” rating in a research note on Friday, September 20th. StockNews.com raised shares of Koppers from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Barrington Research reissued an “outperform” rating and issued a $64.00 price target on shares of Koppers in a research note on Tuesday, November 12th.

Insider Buying and Selling at Koppers

In other news, CEO M Leroy Ball sold 5,000 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 315,129 shares of the company’s stock, valued at $11,949,691.68. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.55% of the company’s stock.

Koppers Stock Performance

Shares of Koppers stock traded down $0.75 on Wednesday, hitting $36.62. The stock had a trading volume of 22,860 shares, compared to its average volume of 145,252. The business’s 50 day moving average is $36.47 and its two-hundred day moving average is $38.36. The stock has a market cap of $742.29 million, a price-to-earnings ratio of 10.62 and a beta of 1.84. Koppers Holdings Inc. has a twelve month low of $33.80 and a twelve month high of $58.23. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83.

Koppers (NYSE:KOP) last released its quarterly earnings results 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. Koppers had a net margin of 3.55% and a return on equity of 16.71%. The company had revenue of $554.30 million during the quarter, compared to the consensus estimate of $571.80 million. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, November 29th. Koppers’s dividend payout ratio (DPR) is 7.95%.

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.