Acadian Asset Management LLC Buys 57,252 Shares of Koppers Holdings Inc. (NYSE:KOP)

Acadian Asset Management LLC grew its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 91.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,691 shares of the specialty chemicals company’s stock after acquiring an additional 57,252 shares during the period. Acadian Asset Management LLC owned about 0.56% of Koppers worth $6,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of KOP. Denali Advisors LLC bought a new stake in shares of Koppers during the 4th quarter valued at $953,000. Allspring Global Investments Holdings LLC grew its position in shares of Koppers by 41.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 89,922 shares of the specialty chemicals company’s stock valued at $4,606,000 after acquiring an additional 26,195 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Koppers during the 4th quarter valued at $328,000. Louisiana State Employees Retirement System bought a new stake in shares of Koppers during the 4th quarter valued at $533,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Koppers by 35.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,782 shares of the specialty chemicals company’s stock valued at $347,000 after acquiring an additional 1,767 shares during the period. Institutional investors own 92.75% of the company’s stock.

Koppers Price Performance

KOP stock traded up $0.04 during mid-day trading on Monday, hitting $38.81. The company had a trading volume of 98,224 shares, compared to its average volume of 147,351. The company has a market capitalization of $822.77 million, a price-to-earnings ratio of 10.91 and a beta of 1.85. Koppers Holdings Inc. has a 12-month low of $34.31 and a 12-month high of $58.23. The company has a quick ratio of 1.00, a current ratio of 2.29 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average price of $40.12 and a 200 day moving average price of $47.78.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Friday, May 3rd. The specialty chemicals company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $497.60 million for the quarter, compared to analysts’ expectations of $497.00 million. Koppers had a net margin of 3.59% and a return on equity of 17.19%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. On average, research analysts anticipate that Koppers Holdings Inc. will post 4.51 earnings per share for the current year.

Koppers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 24th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, May 23rd. Koppers’s dividend payout ratio is 7.89%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research report on Tuesday, May 28th.

Insider Activity

In other news, CEO M Leroy Ball sold 2,500 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $43.13, for a total transaction of $107,825.00. Following the sale, the chief executive officer now directly owns 321,008 shares in the company, valued at approximately $13,845,075.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 7,500 shares of company stock worth $319,850. 6.55% of the stock is currently owned by corporate insiders.

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.