Federated Hermes Inc. Cuts Stake in 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. cut its stake in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 17.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,450 shares of the specialty chemicals company's stock after selling 14,952 shares during the quarter. Federated Hermes Inc. owned about 0.33% of Koppers worth $1,917,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Byrne Asset Management LLC purchased a new stake in Koppers during the 1st quarter valued at about $38,000. Quarry LP purchased a new stake in shares of Koppers during the fourth quarter valued at approximately $40,000. Copeland Capital Management LLC bought a new stake in shares of Koppers during the first quarter valued at approximately $49,000. GAMMA Investing LLC raised its holdings in Koppers by 112.9% in the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 973 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Koppers in the 4th quarter valued at approximately $136,000. Hedge funds and other institutional investors own 92.75% of the company's stock.

Analyst Ratings Changes

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

Koppers Stock Performance

KOP stock traded down $4.42 during midday trading on Friday, reaching $28.85. 405,339 shares of the company's stock traded hands, compared to its average volume of 151,434. The stock's 50-day moving average is $32.65 and its 200 day moving average is $29.94. The stock has a market cap of $577.29 million, a P/E ratio of 24.87 and a beta of 1.40. Koppers Holdings Inc. has a 52-week low of $22.99 and a 52-week high of $40.07. The company has a current ratio of 2.64, a quick ratio of 1.10 and a debt-to-equity ratio of 1.96.

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

Koppers Announces Dividend

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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.1%. Koppers's dividend payout ratio (DPR) is currently 27.59%.

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.