Boston Partners Purchases 9,079 Shares of Koppers Holdings Inc. $KOP

Key Points

• Boston Partners increased its holdings in Koppers Holdings Inc. by 121.0% in Q1 2023, owning 16,583 shares valued at $464,000.
• Koppers reported a quarterly earnings per share of $1.48, slightly below estimates, with revenue down 10.4% year-over-year.
• The company declared a quarterly dividend of $0.08 with an annualized dividend yield of 1.1%, set for payment on September 15th.

Boston Partners increased its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 121.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,583 shares of the specialty chemicals company's stock after buying an additional 9,079 shares during the period. Boston Partners owned 0.08% of Koppers worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in shares of Koppers by 140.6% in the first quarter. Russell Investments Group Ltd. now owns 123,336 shares of the specialty chemicals company's stock valued at $3,453,000 after buying an additional 72,082 shares in the last quarter. Public Sector Pension Investment Board raised its position in Koppers by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 64,305 shares of the specialty chemicals company's stock valued at $1,801,000 after purchasing an additional 13,784 shares in the last quarter. Nuveen LLC acquired a new position in Koppers during the first quarter valued at approximately $2,376,000. Charles Schwab Investment Management Inc. raised its position in Koppers by 9.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 450,439 shares of the specialty chemicals company's stock valued at $12,612,000 after purchasing an additional 37,152 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Koppers by 17.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,069 shares of the specialty chemicals company's stock valued at $170,000 after purchasing an additional 902 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Koppers Trading Up 4.8%

Shares of Koppers stock traded up $1.3920 during trading on Friday, hitting $30.1820. The company's stock had a trading volume of 148,847 shares, compared to its average volume of 165,496. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.60 and a quick ratio of 1.11. Koppers Holdings Inc. has a 52 week low of $22.99 and a 52 week high of $40.07. The stock has a market cap of $595.19 million, a price-to-earnings ratio of 41.92 and a beta of 1.40. The stock has a 50-day moving average price of $32.14 and a two-hundred day moving average price of $29.86.

Koppers (NYSE:KOP - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The specialty chemicals company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). Koppers had a return on equity of 17.43% and a net margin of 0.76%.The business had revenue of $504.80 million during the quarter, compared to the consensus estimate of $540.30 million. During the same period in the prior year, the firm earned $1.36 EPS. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. Koppers has set its FY 2025 guidance at 4.000-4.600 EPS. Equities research analysts anticipate that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.1%. Koppers's payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KOP. Barrington Research decreased their target price on shares of Koppers from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. B. Riley reaffirmed a "buy" rating and set a $50.00 target price (down previously from $55.00) on shares of Koppers in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $52.50.

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.