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

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

Analyst Ratings Changes

A number of research analysts have issued reports on KOP shares. StockNews.com raised shares of Koppers from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Koppers in a report on Monday, February 24th.

Koppers Price Performance

The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13. The firm has a market capitalization of $576.78 million, a PE ratio of 7.99 and a beta of 1.74. The company has a 50-day moving average price of $30.25 and a 200-day moving average price of $33.79.

Koppers (NYSE:KOP) last posted its quarterly earnings data on Thursday, February 27th. The specialty chemicals company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.18). The company had revenue of $477.00 million for the quarter, compared to analyst estimates of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. Sell-side analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is presently 13.17%.

Koppers announced that its board has approved a share repurchase plan on Thursday, February 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 16.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Koppers

A number of large investors have recently made changes to their positions in KOP. Public Employees Retirement System of Ohio boosted its stake in Koppers by 265.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 10,626 shares of the specialty chemicals company’s stock worth $344,000 after buying an additional 7,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Koppers by 51.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,462 shares of the specialty chemicals company’s stock worth $2,056,000 after buying an additional 21,565 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Koppers by 332.1% in the 4th quarter. Two Sigma Advisers LP now owns 33,700 shares of the specialty chemicals company’s stock worth $1,092,000 after buying an additional 25,900 shares during the last quarter. Two Sigma Investments LP boosted its stake in Koppers by 63.6% in the 4th quarter. Two Sigma Investments LP now owns 68,209 shares of the specialty chemicals company’s stock worth $2,210,000 after buying an additional 26,529 shares during the last quarter. Finally, State of Wyoming boosted its stake in Koppers by 66.3% in the 4th quarter. State of Wyoming now owns 4,422 shares of the specialty chemicals company’s stock worth $143,000 after buying an additional 1,763 shares during the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

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.