Koppers (NYSE:KOP) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Koppers (NYSE:KOP) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, Barrington Research reissued an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research note on Monday, February 24th.

Koppers Stock Performance

NYSE KOP opened at $28.69 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. Koppers has a fifty-two week low of $27.00 and a fifty-two week high of $56.96. The business has a fifty day moving average of $30.19 and a 200-day moving average of $33.58. The stock has a market cap of $587.70 million, a price-to-earnings ratio of 8.15 and a beta of 1.74.

Koppers (NYSE:KOP) last announced its earnings results 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%. As a group, analysts predict that Koppers will post 4.24 earnings per share for the current fiscal year.

Koppers announced that its board has approved a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Koppers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors 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. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, March 7th. Koppers’s dividend payout ratio is presently 13.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in Koppers by 36.6% in the third quarter. Victory Capital Management Inc. now owns 28,000 shares of the specialty chemicals company’s stock valued at $1,023,000 after purchasing an additional 7,500 shares during the period. KBC Group NV boosted its holdings in shares of Koppers by 83.8% in the 3rd quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 549 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Koppers by 31.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 44,349 shares of the specialty chemicals company’s stock valued at $1,620,000 after buying an additional 10,677 shares during the period. Quest Partners LLC increased its holdings in shares of Koppers by 3,633.6% during the 3rd quarter. Quest Partners LLC now owns 8,438 shares of the specialty chemicals company’s stock worth $308,000 after buying an additional 8,212 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Koppers in the 3rd quarter worth $337,000. Institutional investors and hedge funds own 92.75% of the company’s stock.

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.