Koppers (NYSE:KOP) Hits New 52-Week Low - Here's Why

Koppers Holdings Inc. (NYSE:KOP - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $24.24 and last traded at $25.09, with a volume of 159882 shares changing hands. The stock had previously closed at $25.39.

Analyst Ratings Changes

Several research firms have commented on KOP. StockNews.com upgraded Koppers from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Barrington Research restated an "outperform" rating and issued a $64.00 target price on shares of Koppers in a report on Monday, February 24th.

Koppers Stock Up 3.3 %

The firm has a market capitalization of $532.33 million, a PE ratio of 7.38 and a beta of 1.44. 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 firm has a 50-day moving average of $27.10 and a two-hundred day moving average of $31.26.

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

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 dividend of $0.08 per share. This is an increase from Koppers's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, March 7th. Koppers's payout ratio is currently 13.17%.

Koppers declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of Koppers

A number of institutional investors have recently added to or reduced their stakes in KOP. Byrne Asset Management LLC acquired a new position in shares of Koppers during the first quarter worth about $38,000. Quarry LP purchased a new stake in shares of Koppers during the 4th quarter valued at about $40,000. Copeland Capital Management LLC acquired a new position in Koppers during the 1st quarter worth approximately $49,000. GAMMA Investing LLC boosted its holdings in Koppers by 112.9% in the 1st quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 973 shares during the period. Finally, US Bancorp DE grew its position in Koppers by 145.1% in the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company's stock valued at $66,000 after acquiring an additional 1,200 shares in the last quarter. 92.75% of the stock is owned by hedge funds and other institutional investors.

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.