Koppers (NYSE:KOP) Shares Down 2.9% – Here’s What Happened

Koppers Holdings Inc. (NYSE:KOP)’s share price fell 2.9% during trading on Wednesday . The company traded as low as $29.90 and last traded at $29.78. 17,927 shares traded hands during trading, a decline of 87% from the average session volume of 139,034 shares. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

A number of research firms recently commented on KOP. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Barrington Research reiterated an “outperform” rating and set a $64.00 price target on shares of Koppers in a research report on Monday, February 24th.

Koppers Stock Performance

The firm has a 50-day moving average of $30.29 and a two-hundred day moving average of $33.85. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $596.86 million, a PE ratio of 8.29 and a beta of 1.74.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.18). The company had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. Research analysts anticipate that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $0.08 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Koppers’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Koppers’s payout ratio is 13.17%.

Koppers announced that its board has approved a share buyback plan on Thursday, February 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Koppers

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Koppers in the third quarter valued at approximately $37,000. KBC Group NV increased its position in shares of Koppers by 83.8% in the third quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 549 shares in the last quarter. Quarry LP purchased a new stake in shares of Koppers in the fourth quarter valued at approximately $40,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Koppers by 277.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,520 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 1,117 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Koppers by 145.1% in the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company’s stock valued at $66,000 after buying an additional 1,200 shares in the last quarter. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

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.