Koppers Holdings Inc. (NYSE:KOP) Sees Large Increase in Short Interest

Koppers Holdings Inc. (NYSE:KOP - Get Free Report) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 941,200 shares, a growth of 23.7% from the May 15th total of 760,600 shares. Approximately 5.0% of the company's shares are sold short. Based on an average trading volume of 175,700 shares, the days-to-cover ratio is presently 5.4 days.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KOP. Barrington Research reissued an "outperform" rating and set a $64.00 price target 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 report on Saturday, March 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KOP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Koppers by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,602 shares of the specialty chemicals company's stock valued at $325,000 after purchasing an additional 361 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Koppers by 2.2% in the first quarter. SummerHaven Investment Management LLC now owns 22,451 shares of the specialty chemicals company's stock worth $629,000 after acquiring an additional 483 shares during the period. Rhumbline Advisers boosted its position in Koppers by 0.8% in the fourth quarter. Rhumbline Advisers now owns 70,685 shares of the specialty chemicals company's stock worth $2,290,000 after purchasing an additional 574 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Koppers by 2.3% during the 1st quarter. Victory Capital Management Inc. now owns 31,300 shares of the specialty chemicals company's stock valued at $876,000 after purchasing an additional 700 shares during the period. Finally, Baird Financial Group Inc. increased its position in shares of Koppers by 3.2% during the 1st quarter. Baird Financial Group Inc. now owns 24,800 shares of the specialty chemicals company's stock valued at $694,000 after purchasing an additional 769 shares during the last quarter. Hedge funds and other institutional investors own 92.75% of the company's stock.

Koppers Price Performance

Shares of NYSE:KOP traded down $0.46 during midday trading on Thursday, hitting $31.17. The stock had a trading volume of 74,567 shares, compared to its average volume of 153,069. The company has a market capitalization of $623.61 million, a P/E ratio of 26.87 and a beta of 1.50. The company has a quick ratio of 1.10, a current ratio of 2.64 and a debt-to-equity ratio of 1.96. Koppers has a fifty-two week low of $22.99 and a fifty-two week high of $41.64. The company's 50-day moving average price is $28.65 and its 200-day moving average price is $29.88.

Koppers (NYSE:KOP - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $456.50 million during the quarter, compared to the consensus estimate of $488.00 million. Koppers had a return on equity of 17.41% and a net margin of 1.24%. The firm's revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. As a group, equities research analysts predict that Koppers will post 4.24 EPS for the current fiscal year.

Koppers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders 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 dividend yield of 1.03%. Koppers's payout ratio is currently 27.59%.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.