Hennessy Advisors Inc. Buys Shares of 153,300 Koppers Holdings Inc. (NYSE:KOP)

Hennessy Advisors Inc. purchased a new position in shares of Koppers Holdings Inc. (NYSE:KOP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 153,300 shares of the specialty chemicals company’s stock, valued at approximately $5,671,000. Hennessy Advisors Inc. owned 0.72% of Koppers at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Koppers by 37.1% in the second quarter. Assenagon Asset Management S.A. now owns 132,016 shares of the specialty chemicals company’s stock valued at $4,883,000 after buying an additional 35,741 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Koppers in the 2nd quarter worth $242,000. Dynamic Advisor Solutions LLC bought a new position in Koppers during the 2nd quarter worth about $567,000. SG Americas Securities LLC raised its stake in shares of Koppers by 33.7% in the 2nd quarter. SG Americas Securities LLC now owns 3,298 shares of the specialty chemicals company’s stock valued at $122,000 after purchasing an additional 831 shares during the period. Finally, CWM LLC lifted its holdings in shares of 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 purchasing an additional 1,096 shares in the last quarter. Institutional investors own 92.75% of the company’s stock.

Koppers Stock Down 0.2 %

Shares of KOP stock opened at $37.64 on Friday. The firm’s fifty day moving average price is $37.56 and its two-hundred day moving average price is $45.78. Koppers Holdings Inc. has a 1 year low of $33.80 and a 1 year high of $58.23. The company has a current ratio of 2.29, a quick ratio of 1.00 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $797.97 million, a P/E ratio of 10.60 and a beta of 1.85.

Koppers (NYSE:KOP) last issued its quarterly earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.27 by $0.09. Koppers had a return on equity of 17.19% and a net margin of 3.59%. The firm had revenue of $563.20 million during the quarter, compared to analysts’ expectations of $589.17 million. During the same period in the prior year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Koppers Holdings Inc. will post 4.51 EPS for the current fiscal year.

Koppers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.74%. Koppers’s payout ratio is 7.89%.

Insider Activity at Koppers

In other Koppers news, CEO M Leroy Ball sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $42.36, for a total transaction of $105,900.00. Following the transaction, the chief executive officer now owns 321,008 shares of the company’s stock, valued at $13,597,898.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Koppers news, CEO M Leroy Ball sold 2,500 shares of Koppers stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $42.36, for a total transaction of $105,900.00. Following the completion of the transaction, the chief executive officer now directly owns 321,008 shares of the company’s stock, valued at $13,597,898.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph P. Dowd sold 5,516 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $37.72, for a total transaction of $208,063.52. Following the completion of the transaction, the vice president now directly owns 10,300 shares in the company, valued at $388,516. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,516 shares of company stock worth $420,089. Insiders own 6.55% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research reissued an “outperform” rating and issued a $64.00 target price on shares of Koppers in a research report on Monday, August 12th.

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.