Allspring Global Investments Holdings LLC Sells 61,832 Shares of Koppers Holdings Inc. (NYSE:KOP)

Allspring Global Investments Holdings LLC cut its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 66.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,486 shares of the specialty chemicals company's stock after selling 61,832 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of Koppers worth $1,150,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of KOP. CWM LLC raised its stake in shares of Koppers by 47.4% in the 3rd quarter. CWM LLC now owns 2,296 shares of the specialty chemicals company's stock valued at $84,000 after purchasing an additional 738 shares during the period. GAMMA Investing LLC grew its holdings in shares of Koppers by 170.4% during the third quarter. GAMMA Investing LLC now owns 830 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 523 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Koppers by 186.7% during the third quarter. SG Americas Securities LLC now owns 9,456 shares of the specialty chemicals company's stock worth $345,000 after buying an additional 6,158 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Koppers in the 2nd quarter valued at approximately $96,000. Finally, Sanctuary Advisors LLC bought a new stake in Koppers in the 2nd quarter valued at approximately $568,000. 92.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $64.00 price target on shares of Koppers in a research note on Monday, August 12th. Singular Research raised shares of Koppers to a "strong-buy" rating in a research report on Friday, September 20th.

Koppers Stock Up 0.6 %

NYSE KOP traded up $0.20 during trading hours on Friday, hitting $34.21. 83,584 shares of the company traded hands, compared to its average volume of 146,270. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.12 and a current ratio of 2.53. The business's 50-day moving average is $36.68 and its 200-day moving average is $39.83. The stock has a market capitalization of $701.99 million, a price-to-earnings ratio of 9.37 and a beta of 1.84. Koppers Holdings Inc. has a twelve month low of $33.80 and a twelve month high of $58.23.

Koppers (NYSE:KOP - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $563.20 million during the quarter, compared to the consensus estimate of $589.17 million. Koppers had a return on equity of 17.16% and a net margin of 3.72%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Koppers Holdings Inc. will post 4.05 earnings per share for the current year.

Koppers Dividend Announcement

The company 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 0.82%. Koppers's payout ratio is 7.67%.

Insider Activity at Koppers

In other news, VP Joseph P. Dowd sold 5,516 shares of Koppers 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 transaction, the vice president now directly owns 10,300 shares in the company, valued at approximately $388,516. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.55% of the stock is currently owned by company 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.