Point72 DIFC Ltd Acquires New Stake in Koppers Holdings Inc. (NYSE:KOP)

Point72 DIFC Ltd bought a new position in Koppers Holdings Inc. (NYSE:KOP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,606 shares of the specialty chemicals company’s stock, valued at approximately $96,000.

Other hedge funds also recently modified their holdings of the company. Texas Permanent School Fund Corp raised its position in Koppers by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 18,224 shares of the specialty chemicals company’s stock worth $1,005,000 after acquiring an additional 236 shares in the last quarter. Quadrature Capital Ltd lifted its stake in Koppers by 1.7% during the fourth quarter. Quadrature Capital Ltd now owns 15,379 shares of the specialty chemicals company’s stock valued at $788,000 after purchasing an additional 251 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Koppers by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 12,767 shares of the specialty chemicals company’s stock worth $704,000 after buying an additional 302 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Koppers by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 10,878 shares of the specialty chemicals company’s stock valued at $402,000 after buying an additional 376 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Koppers by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the specialty chemicals company’s stock valued at $396,000 after acquiring an additional 400 shares during the last quarter. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Koppers Trading Up 0.5 %

Shares of KOP stock opened at $36.70 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.12 and a debt-to-equity ratio of 1.92. Koppers Holdings Inc. has a 1 year low of $33.80 and a 1 year high of $58.23. The firm’s fifty day simple moving average is $37.44 and its 200 day simple moving average is $42.71. The firm has a market capitalization of $778.04 million, a P/E ratio of 10.34 and a beta of 1.84.

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

Koppers Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have weighed in on KOP shares. Barrington Research reiterated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research report on Monday, August 12th. Singular Research upgraded Koppers to a “strong-buy” rating in a report on Friday, September 20th.

Insider Activity

In related news, VP Joseph P. Dowd sold 5,516 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $37.72, for a total value of $208,063.52. Following the sale, the vice president now owns 10,300 shares of the company’s stock, valued at $388,516. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.55% of the company’s stock.

Koppers 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.