Renaissance Technologies LLC Purchases 78,732 Shares of Koppers Holdings Inc. (NYSE:KOP)

Renaissance Technologies LLC boosted its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 101.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,632 shares of the specialty chemicals company's stock after purchasing an additional 78,732 shares during the quarter. Renaissance Technologies LLC owned about 0.77% of Koppers worth $5,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Federated Hermes Inc. lifted its stake in shares of Koppers by 16.8% in the fourth quarter. Federated Hermes Inc. now owns 83,402 shares of the specialty chemicals company's stock valued at $2,702,000 after buying an additional 11,980 shares in the last quarter. Foundry Partners LLC lifted its position in Koppers by 61.3% in the 4th quarter. Foundry Partners LLC now owns 177,570 shares of the specialty chemicals company's stock valued at $5,753,000 after acquiring an additional 67,470 shares in the last quarter. Villanova Investment Management Co LLC boosted its stake in Koppers by 71.5% during the 4th quarter. Villanova Investment Management Co LLC now owns 49,729 shares of the specialty chemicals company's stock valued at $1,611,000 after purchasing an additional 20,735 shares during the last quarter. Trexquant Investment LP increased its holdings in Koppers by 34.8% during the 4th quarter. Trexquant Investment LP now owns 60,948 shares of the specialty chemicals company's stock worth $1,975,000 after purchasing an additional 15,744 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its stake in shares of Koppers by 41.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 30,850 shares of the specialty chemicals company's stock worth $1,000,000 after purchasing an additional 9,009 shares during the last quarter. Institutional investors own 92.75% of the company's stock.

Koppers Stock Performance

Shares of Koppers stock traded down $0.75 during mid-day trading on Friday, hitting $24.83. 23,051 shares of the stock were exchanged, compared to its average volume of 157,599. Koppers Holdings Inc. has a 12 month low of $22.99 and a 12 month high of $54.07. The company has a 50-day simple moving average of $27.75 and a 200 day simple moving average of $31.77. The company has a market capitalization of $508.65 million, a P/E ratio of 7.04 and a beta of 1.50. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54.

Koppers (NYSE:KOP - Get Free Report) last posted 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 business had revenue of $477.00 million during the quarter, compared to analysts' expectations of $497.00 million. Koppers had a return on equity of 16.71% and a net margin of 3.55%. Sell-side analysts anticipate that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers declared that its board has authorized a share buyback plan on Thursday, February 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 16.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, March 7th. This is an increase from Koppers's previous quarterly dividend of $0.07. Koppers's dividend payout ratio (DPR) is 13.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on KOP shares. StockNews.com raised Koppers from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Barrington Research reiterated an "outperform" rating and issued a $64.00 target price on shares of Koppers in a research note on Monday, February 24th.

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.