Koppers Holdings Inc. (NYSE:KOP) Shares Sold by Ironwood Investment Management LLC

Ironwood Investment Management LLC lowered its stake in shares of Koppers Holdings Inc. (NYSE:KOP) by 30.7% during the second quarter, Holdings Channel reports. The fund owned 69,416 shares of the specialty chemicals company’s stock after selling 30,680 shares during the period. Koppers comprises 1.4% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 15th largest position. Ironwood Investment Management LLC’s holdings in Koppers were worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Koppers in the fourth quarter worth approximately $26,000. nVerses Capital LLC acquired a new position in shares of Koppers during the second quarter worth $37,000. Innealta Capital LLC purchased a new position in Koppers in the second quarter valued at $45,000. CWM LLC increased its holdings in Koppers by 237.2% in the second quarter. CWM LLC now owns 1,558 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 1,096 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Koppers in the second quarter valued at $96,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Koppers Stock Performance

NYSE KOP opened at $37.01 on Monday. The company has a market capitalization of $784.61 million, a PE ratio of 10.43 and a beta of 1.84. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.53 and a quick ratio of 1.12. Koppers Holdings Inc. has a 1 year low of $33.80 and a 1 year high of $58.23. The company has a fifty day moving average of $37.54 and a two-hundred day moving average of $42.93.

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

Koppers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.76%. Koppers’s payout ratio is 7.89%.

Insider Transactions at Koppers

In other Koppers news, VP Joseph P. Dowd sold 5,516 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $37.72, for a total transaction of $208,063.52. Following the completion of the sale, the vice president now directly owns 10,300 shares of the company’s stock, valued at approximately $388,516. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KOP shares. Barrington Research reiterated an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a report on Monday, August 12th. Singular Research upgraded shares of Koppers to a “strong-buy” rating in a research note on Friday, September 20th.

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.