Rhumbline Advisers Cuts Stake in Koppers Holdings Inc. (NYSE:KOP)

Rhumbline Advisers decreased its stake in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,337 shares of the specialty chemicals company's stock after selling 8,348 shares during the period. Rhumbline Advisers owned approximately 0.30% of Koppers worth $1,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in Koppers in the fourth quarter valued at approximately $40,000. US Bancorp DE grew its holdings in 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 purchasing an additional 1,200 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Koppers during the 4th quarter valued at $136,000. State of Wyoming increased its stake 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 buying an additional 1,763 shares during the period. Finally, Aquatic Capital Management LLC lifted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 92.75% of the company's stock.

Koppers Price Performance

KOP opened at $31.60 on Wednesday. The company has a market capitalization of $632.32 million, a P/E ratio of 27.24 and a beta of 1.50. The company has a 50-day moving average of $28.53 and a 200-day moving average of $29.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.10 and a current ratio of 2.64. Koppers Holdings Inc. has a 1-year low of $22.99 and a 1-year high of $41.64.

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

Koppers announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Koppers Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.01%. Koppers's payout ratio is 27.59%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KOP. Barrington Research reaffirmed an "outperform" rating and set a $64.00 target price on shares of Koppers in a research 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.

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