Huntington National Bank Sells 797 Shares of Koppers Holdings Inc. (NYSE:KOP)

Huntington National Bank decreased its holdings in Koppers Holdings Inc. (NYSE:KOP) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,142 shares of the specialty chemicals company’s stock after selling 797 shares during the quarter. Huntington National Bank’s holdings in Koppers were worth $5,415,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KOP. Rhumbline Advisers raised 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 in the last quarter. Jane Street Group LLC grew its stake in shares of Koppers by 128.7% in the 3rd quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock valued at $2,212,000 after purchasing an additional 34,074 shares during the period. Barclays PLC raised its holdings in shares of Koppers by 356.9% in the 3rd quarter. Barclays PLC now owns 36,941 shares of the specialty chemicals company’s stock worth $1,350,000 after buying an additional 28,855 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Koppers by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,871 shares of the specialty chemicals company’s stock worth $15,521,000 after buying an additional 20,586 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Koppers by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,560 shares of the specialty chemicals company’s stock worth $2,431,000 after buying an additional 9,156 shares during the period. 92.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KOP has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and issued 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 report on Saturday, March 22nd.

Koppers Stock Up 1.1 %

Shares of KOP opened at $28.00 on Thursday. The company has a market capitalization of $573.61 million, a P/E ratio of 7.95 and a beta of 1.74. Koppers Holdings Inc. has a one year low of $27.00 and a one year high of $56.96. The business’s 50 day simple moving average is $29.71 and its 200-day simple moving average is $33.20. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13.

Koppers (NYSE:KOP) last posted 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 business had revenue of $477.00 million during the quarter, compared to analyst estimates of $497.00 million. Koppers had a return on equity of 16.71% and a net margin of 3.55%. As a group, sell-side analysts predict that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers declared that its Board of Directors has authorized a share buyback program on Thursday, February 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.32 dividend on an annualized basis and a yield of 1.14%. This is a positive change from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio is currently 13.17%.

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.