Koppers (NYSE:KOP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Koppers (NYSE:KOP) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Separately, Barrington Research reissued an “outperform” rating and set a $64.00 price objective on shares of Koppers in a report on Monday, February 24th.

Koppers Stock Performance

KOP stock opened at $28.12 on Friday. The firm has a market cap of $575.96 million, a PE ratio of 7.99 and a beta of 1.74. 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 business has a 50 day moving average of $30.22 and a 200-day moving average of $33.67. Koppers has a 12-month low of $27.00 and a 12-month high of $56.96.

Koppers (NYSE:KOP) last released its earnings results on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.18). The business had revenue of $477.00 million during the quarter, compared to the consensus estimate of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. As a group, sell-side analysts expect that Koppers will post 4.24 earnings per share for the current year.

Koppers declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the specialty chemicals company to purchase up to 16.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Koppers Increases Dividend

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

Institutional Investors Weigh In On Koppers

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its position in shares of Koppers by 265.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 10,626 shares of the specialty chemicals company’s stock worth $344,000 after acquiring an additional 7,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Koppers by 51.5% during the fourth 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 acquiring an additional 21,565 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Koppers by 332.1% during the fourth quarter. Two Sigma Advisers LP now owns 33,700 shares of the specialty chemicals company’s stock worth $1,092,000 after acquiring an additional 25,900 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Koppers by 63.6% during the fourth quarter. Two Sigma Investments LP now owns 68,209 shares of the specialty chemicals company’s stock worth $2,210,000 after acquiring an additional 26,529 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Koppers by 66.3% during the fourth quarter. State of Wyoming now owns 4,422 shares of the specialty chemicals company’s stock worth $143,000 after acquiring an additional 1,763 shares in the last quarter. Hedge funds and other institutional investors 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.