Russell Investments Group Ltd. Buys 72,082 Shares of Koppers Holdings Inc. $KOP

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Koppers Holdings Inc. by 140.6% in the first quarter, owning 123,336 shares valued at approximately $3.45 million.
• Koppers reported $1.48 earnings per share for the last quarter, missing analyst expectations by $0.01, while its revenue decreased 10.4% year-over-year.
• The company has declared a quarterly dividend of $0.08 per share, providing a dividend yield of 1.1%, with the payment date set for September 15th.

Russell Investments Group Ltd. increased its position in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 140.6% 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 123,336 shares of the specialty chemicals company's stock after purchasing an additional 72,082 shares during the period. Russell Investments Group Ltd. owned 0.60% of Koppers worth $3,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board grew its stake in shares of 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 worth $1,801,000 after purchasing an additional 13,784 shares in the last quarter. Nuveen LLC acquired a new stake in Koppers during the first quarter worth approximately $2,376,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Koppers by 9.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 450,439 shares of the specialty chemicals company's stock valued at $12,612,000 after acquiring an additional 37,152 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Koppers by 17.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,069 shares of the specialty chemicals company's stock worth $170,000 after buying an additional 902 shares during the period. Finally, LSV Asset Management increased its stake in Koppers by 19.9% during the 1st quarter. LSV Asset Management now owns 758,661 shares of the specialty chemicals company's stock worth $21,243,000 after buying an additional 125,799 shares during the period. Institutional investors and hedge funds own 92.75% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barrington Research decreased their price target on shares of Koppers from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, August 8th. B. Riley reiterated a "buy" rating and issued a $50.00 target price (down from $55.00) on shares of Koppers in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $52.50.

Koppers Stock Performance

NYSE:KOP traded down $0.26 during trading hours on Thursday, hitting $28.98. 71,739 shares of the company traded hands, compared to its average volume of 153,490. The stock has a market capitalization of $571.27 million, a price-to-earnings ratio of 40.27 and a beta of 1.40. Koppers Holdings Inc. has a twelve month low of $22.99 and a twelve month high of $39.83. The firm has a 50-day moving average of $32.01 and a 200 day moving average of $29.86. The company has a current ratio of 2.60, a quick ratio of 1.11 and a debt-to-equity ratio of 1.83.

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 the consensus estimate of $1.49 by ($0.01). The company had revenue of $504.80 million for the quarter, compared to analyst estimates of $540.30 million. Koppers had a net margin of 0.76% and a return on equity of 17.43%. Koppers's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. Koppers has set its FY 2025 guidance at 4.000-4.600 EPS. On average, analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Announces Dividend

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

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.