Koppers Holdings Inc. (NYSE:KOP) Sees Significant Growth in Short Interest

Koppers Holdings Inc. (NYSE:KOP) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 518,600 shares, an increase of 11.3% from the January 15th total of 466,100 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average trading volume of 133,400 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Ratings Changes

Several research firms recently commented on KOP. Barrington Research reissued an “outperform” rating and set a $64.00 price target on shares of Koppers in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Koppers from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Insider Activity

In other Koppers news, Director Stephen R. Tritch sold 3,533 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total transaction of $131,003.64. Following the completion of the sale, the director now directly owns 47,737 shares in the company, valued at $1,770,087.96. This represents a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO M Leroy Ball sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $37.26, for a total value of $223,560.00. Following the sale, the chief executive officer now owns 314,325 shares of the company’s stock, valued at $11,711,749.50. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.55% of the company’s stock.

Hedge Funds Weigh In On Koppers

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its position in Koppers by 128.7% during the 3rd quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock valued at $2,212,000 after purchasing an additional 34,074 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Koppers by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,871 shares of the specialty chemicals company’s stock valued at $15,521,000 after buying an additional 20,586 shares during the last quarter. Barclays PLC boosted its stake in Koppers by 356.9% during the 3rd quarter. Barclays PLC now owns 36,941 shares of the specialty chemicals company’s stock valued at $1,350,000 after purchasing an additional 28,855 shares during the period. Foundry Partners LLC bought a new position in Koppers in the 3rd quarter worth approximately $4,022,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Koppers by 20.7% in the third quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company’s stock valued at $20,778,000 after acquiring an additional 97,586 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

Koppers Stock Down 0.2 %

NYSE:KOP traded down $0.05 during mid-day trading on Monday, reaching $30.09. The stock had a trading volume of 76,987 shares, compared to its average volume of 93,543. The stock’s 50 day simple moving average is $31.28 and its two-hundred day simple moving average is $34.93. Koppers has a 1-year low of $28.57 and a 1-year high of $58.23. The company has a market capitalization of $609.90 million, a price-to-earnings ratio of 8.55 and a beta of 1.83. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13.

Koppers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $0.08 per share. This is a positive change from Koppers’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, March 7th. Koppers’s dividend payout ratio is currently 7.95%.

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.