Federated Hermes Inc. Sells 14,952 Shares of Koppers Holdings Inc. (NYSE:KOP)

Key Points

• Federated Hermes Inc. sold 14,952 shares of Koppers Holdings Inc., reducing its stake by 17.9%, and now owns 68,450 shares worth approximately $1.9 million.
• Koppers reported $0.71 EPS for the latest quarter, exceeding estimates of $0.56, but faced an 8.3% decline in revenue year-over-year, totaling $456.5 million.
• The company declared a quarterly dividend of $0.08, yielding 1.0%, with a payout ratio of 27.59% as of the end of May.

Federated Hermes Inc. decreased its position in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,450 shares of the specialty chemicals company's stock after selling 14,952 shares during the period. Federated Hermes Inc. owned approximately 0.33% of Koppers worth $1,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Koppers by 44.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,567 shares of the specialty chemicals company's stock valued at $156,000 after buying an additional 1,704 shares during the period. Foundry Partners LLC grew its holdings in shares of Koppers by 10.0% in the 1st quarter. Foundry Partners LLC now owns 195,285 shares of the specialty chemicals company's stock valued at $5,468,000 after buying an additional 17,715 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Koppers by 34.4% in the 1st quarter. Pzena Investment Management LLC now owns 1,221,328 shares of the specialty chemicals company's stock valued at $34,197,000 after buying an additional 312,556 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Koppers by 2.3% in the 1st quarter. Victory Capital Management Inc. now owns 31,300 shares of the specialty chemicals company's stock valued at $876,000 after buying an additional 700 shares during the period. Finally, Waterfront Wealth Inc. grew its holdings in shares of Koppers by 141.0% in the 1st quarter. Waterfront Wealth Inc. now owns 31,807 shares of the specialty chemicals company's stock valued at $891,000 after buying an additional 18,607 shares during the period. Institutional investors and hedge funds own 92.75% of the company's stock.

Koppers Stock Down 13.3%

KOP traded down $4.42 during trading on Friday, hitting $28.85. The company had a trading volume of 405,339 shares, compared to its average volume of 111,532. The company has a market capitalization of $577.29 million, a PE ratio of 24.87 and a beta of 1.40. Koppers Holdings Inc. has a one year low of $22.99 and a one year high of $40.07. The firm's 50-day moving average price is $32.61 and its 200 day moving average price is $29.91. The company has a quick ratio of 1.10, a current ratio of 2.64 and a debt-to-equity ratio of 1.96.

Koppers (NYSE:KOP - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The specialty chemicals company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $504.80 million during the quarter, compared to the consensus estimate of $540.30 million. Koppers had a net margin of 1.24% and a return on equity of 17.41%. The company's revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. As a group, equities analysts expect that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 1.1%. Koppers's payout ratio is 27.59%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research set a $55.00 price target on shares of Koppers and gave the company an "outperform" rating in a report on Friday.

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.