Principal Financial Group Inc. Sells 159,509 Shares of Koppers Holdings Inc. (NYSE:KOP)

Principal Financial Group Inc. reduced its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 34.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,797 shares of the specialty chemicals company's stock after selling 159,509 shares during the quarter. Principal Financial Group Inc. owned 1.46% of Koppers worth $8,366,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KOP. Bank of New York Mellon Corp increased its holdings in shares of Koppers by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 201,557 shares of the specialty chemicals company's stock worth $6,530,000 after acquiring an additional 1,596 shares in the last quarter. US Bancorp DE grew its holdings in shares of Koppers by 145.1% during the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company's stock worth $66,000 after buying an additional 1,200 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Koppers by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 30,600 shares of the specialty chemicals company's stock worth $991,000 after buying an additional 2,600 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Koppers during the fourth quarter worth about $482,000. Finally, Amundi grew its holdings in shares of Koppers by 205.0% during the fourth quarter. Amundi now owns 12,271 shares of the specialty chemicals company's stock worth $372,000 after buying an additional 8,248 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors.

Koppers Price Performance

KOP stock traded down $0.09 during midday trading on Friday, reaching $32.17. 44,197 shares of the stock were exchanged, compared to its average volume of 150,138. The stock has a market capitalization of $643.72 million, a PE ratio of 27.73 and a beta of 1.49. Koppers Holdings Inc. has a 52 week low of $22.99 and a 52 week high of $41.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.64 and a quick ratio of 1.10. The company has a fifty day moving average price of $31.93 and a 200 day moving average price of $29.76.

Koppers (NYSE:KOP - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The specialty chemicals company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.15. The company had revenue of $456.50 million for the quarter, compared to the consensus estimate of $488.00 million. Koppers had a return on equity of 17.41% and a net margin of 1.24%. The firm's revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Koppers's dividend payout ratio is currently 27.59%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KOP shares. Wall Street Zen upgraded Koppers from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Barrington Research reissued an "outperform" rating and set a $64.00 price target on shares of Koppers in a report on Tuesday, May 13th.

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.