Voloridge Investment Management LLC Has $1.60 Million Holdings in Koppers Holdings Inc. (NYSE:KOP)

Voloridge Investment Management LLC lowered its stake in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 42.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,337 shares of the specialty chemicals company's stock after selling 36,765 shares during the period. Voloridge Investment Management LLC owned approximately 0.24% of Koppers worth $1,599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP purchased a new position in Koppers during the 4th quarter worth approximately $40,000. US Bancorp DE grew its position in Koppers by 145.1% during the 4th 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 in the last quarter. R Squared Ltd purchased a new position in Koppers during the 4th quarter worth approximately $69,000. KLP Kapitalforvaltning AS purchased a new position in Koppers during the 4th quarter worth approximately $136,000. Finally, State of Wyoming grew its position in Koppers by 66.3% during the 4th quarter. State of Wyoming now owns 4,422 shares of the specialty chemicals company's stock worth $143,000 after purchasing an additional 1,763 shares in the last quarter. Institutional investors own 92.75% of the company's stock.

Koppers Stock Down 2.6%

Shares of Koppers stock traded down $0.83 on Friday, hitting $30.72. 198,719 shares of the company traded hands, compared to its average volume of 156,027. The company has a 50-day moving average price of $27.19 and a 200 day moving average price of $30.43. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. Koppers Holdings Inc. has a 12-month low of $22.99 and a 12-month high of $44.64. The company has a market cap of $614.71 million, a PE ratio of 8.73 and a beta of 1.44.

Koppers (NYSE:KOP - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The specialty chemicals company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.56 by $0.15. Koppers had a net margin of 3.55% and a return on equity of 16.71%. The business had revenue of $456.50 million for the quarter, compared to analysts' expectations of $488.00 million. During the same period in the previous year, the company posted $0.62 EPS. Koppers's revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers announced that its board has initiated a stock repurchase plan 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 plans are generally an indication that the company's management believes its shares are undervalued.

Koppers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, May 30th. Koppers's payout ratio is presently 27.59%.

Analysts Set New Price Targets

Several research firms have weighed in on KOP. Wall Street Zen upgraded shares of Koppers from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Barrington Research reiterated an "outperform" rating and set a $64.00 price objective on shares of Koppers in a research report on Tuesday, May 13th.

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.