Pzena Investment Management LLC Acquires 312,556 Shares of Koppers Holdings Inc. (NYSE:KOP)

Pzena Investment Management LLC grew its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 34.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,221,328 shares of the specialty chemicals company's stock after purchasing an additional 312,556 shares during the period. Pzena Investment Management LLC owned about 5.96% of Koppers worth $34,197,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Koppers in the fourth quarter worth approximately $40,000. Byrne Asset Management LLC acquired a new position in Koppers in the first quarter worth approximately $38,000. Copeland Capital Management LLC acquired a new position in Koppers in the first quarter worth approximately $49,000. GAMMA Investing LLC increased its holdings in Koppers by 112.9% in the first quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company's stock worth $51,000 after buying an additional 973 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Koppers in the fourth quarter worth approximately $136,000. Institutional investors and hedge funds own 92.75% of the company's stock.

Koppers Stock Performance

Koppers stock traded up $0.09 during trading hours on Friday, reaching $32.35. 120,439 shares of the company were exchanged, compared to its average volume of 150,431. The firm has a market cap of $647.32 million, a price-to-earnings ratio of 27.89 and a beta of 1.49. The company has a current ratio of 2.64, a quick ratio of 1.10 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average of $31.93 and a 200 day moving average of $29.76. Koppers Holdings Inc. has a 12 month low of $22.99 and a 12 month high of $41.64.

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

Koppers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were given a $0.08 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Koppers's dividend payout ratio is 27.59%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KOP. Barrington Research restated an "outperform" rating and issued a $64.00 price objective 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 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.