Federated Hermes Inc. lifted its holdings in Koppers Holdings Inc. (NYSE:KOP – Free Report) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 76,772 shares of the specialty chemicals company’s stock after acquiring an additional 423 shares during the quarter. Federated Hermes Inc.’s holdings in Koppers were worth $2,840,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Koppers in the fourth quarter worth approximately $26,000. nVerses Capital LLC acquired a new stake in shares of Koppers during the second quarter worth $37,000. Innealta Capital LLC purchased a new stake in shares of Koppers during the second quarter valued at $45,000. CWM LLC lifted its holdings in shares of Koppers by 237.2% during the second quarter. CWM LLC now owns 1,558 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 1,096 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Koppers in the 1st quarter valued at $136,000. 92.75% of the stock is currently owned by institutional investors.
Koppers Trading Up 1.5 %
Koppers stock opened at $37.42 on Friday. The company has a 50 day moving average price of $37.68 and a 200 day moving average price of $43.80. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.12 and a current ratio of 2.53. Koppers Holdings Inc. has a 52 week low of $33.80 and a 52 week high of $58.23. The firm has a market capitalization of $793.30 million, a price-to-earnings ratio of 10.55 and a beta of 1.84.
Koppers Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 30th. Koppers’s dividend payout ratio (DPR) is 7.89%.
Insider Buying and Selling
In other Koppers news, VP Joseph P. Dowd sold 5,516 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the transaction, the vice president now owns 10,300 shares in the company, valued at approximately $388,516. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.55% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Separately, Barrington Research restated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a report on Monday, August 12th.
Check Out Our Latest Research Report on Koppers
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.
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