Geode Capital Management LLC Has $14.74 Million Stock Holdings in Koppers Holdings Inc. (NYSE:KOP)

Geode Capital Management LLC lessened its holdings in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 454,681 shares of the specialty chemicals company's stock after selling 14,218 shares during the quarter. Geode Capital Management LLC owned 2.24% of Koppers worth $14,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its stake in Koppers by 18.0% during the 4th quarter. Pzena Investment Management LLC now owns 908,772 shares of the specialty chemicals company's stock worth $29,444,000 after purchasing an additional 138,603 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Koppers by 20.7% in the third quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company's stock valued at $20,778,000 after buying an additional 97,586 shares during the period. Bank of New York Mellon Corp increased its position in shares of Koppers by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 201,557 shares of the specialty chemicals company's stock worth $6,530,000 after acquiring an additional 1,596 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of Koppers by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 184,500 shares of the specialty chemicals company's stock valued at $5,978,000 after purchasing an additional 11,800 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Koppers by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 141,582 shares of the specialty chemicals company's stock worth $4,587,000 after buying an additional 75,022 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors.

Koppers Stock Down 3.1 %

Shares of NYSE:KOP traded down $0.80 during midday trading on Friday, reaching $24.78. The company had a trading volume of 23,051 shares, compared to its average volume of 157,599. Koppers Holdings Inc. has a 1-year low of $22.99 and a 1-year high of $54.07. The stock has a market cap of $507.62 million, a PE ratio of 7.04 and a beta of 1.50. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The business's 50 day moving average price is $27.75 and its 200 day moving average price is $31.77.

Koppers (NYSE:KOP - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The specialty chemicals company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.18). The firm had revenue of $477.00 million during the quarter, compared to the consensus estimate of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. Research analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers declared that its board has authorized a share 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 repurchase up to 16.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Koppers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $0.08 dividend. This is a positive change from Koppers's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.32 annualized dividend and a yield of 1.29%. Koppers's dividend payout ratio is currently 13.17%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KOP. Barrington Research reaffirmed an "outperform" rating and set a $64.00 price target on shares of Koppers in a research report on Monday, February 24th. StockNews.com raised shares of 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.