Millennium Management LLC Sells 12,734 Shares of Koppers Holdings Inc. (NYSE:KOP)

Millennium Management LLC decreased its holdings in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,635 shares of the specialty chemicals company's stock after selling 12,734 shares during the quarter. Millennium Management LLC owned 1.52% of Koppers worth $9,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in Koppers in the 4th quarter worth approximately $40,000. US Bancorp DE lifted its position in Koppers by 145.1% in the 4th quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company's stock worth $66,000 after buying an additional 1,200 shares during the last quarter. R Squared Ltd bought a new stake in Koppers in the 4th quarter worth approximately $69,000. KLP Kapitalforvaltning AS bought a new stake in Koppers in the 4th quarter worth approximately $136,000. Finally, Aquatic Capital Management LLC lifted its position in Koppers by 196.7% in the 4th quarter. Aquatic Capital Management LLC now owns 5,637 shares of the specialty chemicals company's stock worth $183,000 after buying an additional 3,737 shares during the last quarter. Hedge funds and other institutional investors own 92.75% of the company's stock.

Koppers Trading Down 0.2%

Shares of NYSE:KOP traded down $0.06 during trading on Thursday, reaching $31.55. 14,823 shares of the company traded hands, compared to its average volume of 161,029. The firm has a market capitalization of $631.36 million, a price-to-earnings ratio of 8.96 and a beta of 1.44. Koppers Holdings Inc. has a 52-week low of $22.99 and a 52-week high of $44.64. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83. The business's fifty day moving average is $27.08 and its 200-day moving average is $30.52.

Koppers (NYSE:KOP - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $456.50 million during the quarter, compared to analyst estimates of $488.00 million. Koppers had a return on equity of 16.71% and a net margin of 3.55%. The business's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. As a group, analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, May 30th. Koppers's dividend payout ratio (DPR) is presently 27.59%.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barrington Research restated an "outperform" rating and issued a $64.00 target price on shares of Koppers in a research report on Tuesday, May 13th. Wall Street Zen upgraded Koppers from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd.

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.