Koppers Holdings Inc. (NYSE:KOP) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its stake in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 586.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,704 shares of the specialty chemicals company's stock after buying an additional 168,063 shares during the period. Millennium Management LLC owned approximately 0.93% of Koppers worth $7,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Koppers in the fourth quarter valued at approximately $26,000. nVerses Capital LLC acquired a new stake in Koppers during the 2nd quarter worth $37,000. Innealta Capital LLC purchased a new position in Koppers during the 2nd quarter worth $45,000. CWM LLC increased its stake 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 purchasing an additional 1,096 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Koppers in the second quarter valued at about $96,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $208,063.52. Following the completion of the transaction, the vice president now owns 10,300 shares of the company's stock, valued at $388,516. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.55% of the company's stock.

Koppers Price Performance

Shares of KOP stock traded up $0.05 during mid-day trading on Thursday, reaching $36.57. The stock had a trading volume of 80,820 shares, compared to its average volume of 151,846. The company has a current ratio of 2.53, a quick ratio of 1.12 and a debt-to-equity ratio of 1.92. The company has a market cap of $775.28 million, a P/E ratio of 10.29 and a beta of 1.84. The business has a 50-day simple moving average of $37.02 and a 200 day simple moving average of $42.05. Koppers Holdings Inc. has a 12-month low of $33.80 and a 12-month high of $58.23.

Koppers (NYSE:KOP - Get Free Report) last announced its earnings results on Thursday, August 8th. The specialty chemicals company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.09. The firm had revenue of $563.20 million during the quarter, compared to the consensus estimate of $589.17 million. Koppers had a net margin of 3.72% and a return on equity of 17.16%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 EPS. On average, sell-side analysts anticipate that Koppers Holdings Inc. will post 4.05 earnings per share for the current year.

Koppers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Friday, August 30th. Koppers's dividend payout ratio (DPR) is 7.89%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Singular Research upgraded Koppers to a "strong-buy" rating in a research report on Friday, September 20th. Barrington Research reissued an "outperform" rating and issued a $64.00 target price on shares of Koppers in a report on Monday, August 12th.

About Koppers

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.