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

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

Analyst Upgrades and Downgrades

KOP has been the subject of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $64.00 target price on shares of Koppers in a research report on Monday, February 24th. StockNews.com upgraded Koppers from a “sell” rating to a “hold” rating in a research report on Thursday, March 13th.

Koppers Stock Down 5.0 %

The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54. The company has a fifty day moving average of $30.29 and a two-hundred day moving average of $33.85. The company has a market cap 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 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.18). The firm 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%. As a group, analysts anticipate that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, March 7th. This is an increase from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is currently 13.17%.

Koppers announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 16.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Koppers

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in shares of Koppers during the third quarter worth about $37,000. KBC Group NV lifted its holdings in shares of Koppers by 83.8% during the third quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 549 shares during the period. Quarry LP acquired a new stake in shares of Koppers during the fourth quarter worth about $40,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Koppers by 277.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,520 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 1,117 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Koppers by 145.1% during the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 92.75% of the company’s stock.

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.