Koppers Holdings Inc. (NYSE:KOP) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its stake in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,600 shares of the specialty chemicals company's stock after selling 18,900 shares during the period. Hennessy Advisors Inc. owned 0.81% of Koppers worth $4,637,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KOP. SummerHaven Investment Management LLC lifted its position in Koppers by 2.2% during the first quarter. SummerHaven Investment Management LLC now owns 22,451 shares of the specialty chemicals company's stock valued at $629,000 after buying an additional 483 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Koppers by 0.8% in the 4th quarter. Rhumbline Advisers now owns 70,685 shares of the specialty chemicals company's stock valued at $2,290,000 after acquiring an additional 574 shares during the period. GAMMA Investing LLC raised its stake in shares of Koppers by 112.9% in the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company's stock valued at $51,000 after acquiring an additional 973 shares during the period. US Bancorp DE lifted its holdings in shares of Koppers by 145.1% during the 4th quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company's stock valued at $66,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Quarry LP purchased a new stake in Koppers during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 92.75% of the company's stock.

Analysts Set New Price Targets

KOP has been the subject of several recent research reports. Barrington Research reiterated an "outperform" rating and issued a $64.00 price target on shares of Koppers in a report on Tuesday, May 13th. Wall Street Zen raised Koppers from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd.

Koppers Stock Down 1.4%

Shares of KOP traded down $0.45 during mid-day trading on Wednesday, reaching $31.17. 36,914 shares of the stock traded hands, compared to its average volume of 153,127. The firm has a market cap of $623.71 million, a price-to-earnings ratio of 26.85 and a beta of 1.50. The stock has a fifty day simple moving average of $28.53 and a 200 day simple moving average of $29.88. Koppers Holdings Inc. has a 12-month low of $22.99 and a 12-month high of $41.64. The company has a quick ratio of 1.10, a current ratio of 2.64 and a debt-to-equity ratio of 1.96.

Koppers (NYSE:KOP - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The specialty chemicals company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.15. Koppers had a net margin of 1.24% and a return on equity of 17.41%. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $488.00 million. During the same period last year, the business earned $0.62 EPS. The business's revenue was down 8.3% on a year-over-year basis. Sell-side analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers declared that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Koppers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. Koppers's dividend payout ratio (DPR) is presently 27.59%.

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.