New York State Teachers Retirement System Reduces Stock Position in Koppers Holdings Inc. (NYSE:KOP)

New York State Teachers Retirement System reduced its holdings in shares of Koppers Holdings Inc. (NYSE:KOP) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,954 shares of the specialty chemicals company’s stock after selling 700 shares during the quarter. New York State Teachers Retirement System owned about 0.20% of Koppers worth $1,295,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KOP. Pzena Investment Management LLC lifted its stake in shares of Koppers by 91.8% during the 3rd quarter. Pzena Investment Management LLC now owns 770,169 shares of the specialty chemicals company’s stock valued at $28,134,000 after buying an additional 368,709 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Koppers during the 3rd quarter valued at approximately $4,022,000. Principal Financial Group Inc. lifted its stake in shares of Koppers by 20.7% during the 3rd quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company’s stock valued at $20,778,000 after buying an additional 97,586 shares in the last quarter. Empowered Funds LLC lifted its stake in Koppers by 137.9% in the 3rd quarter. Empowered Funds LLC now owns 102,586 shares of the specialty chemicals company’s stock worth $3,747,000 after purchasing an additional 59,460 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Koppers by 128.7% in the 3rd quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock worth $2,212,000 after purchasing an additional 34,074 shares in the last quarter. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on KOP. Barrington Research reiterated an “outperform” rating and issued a $64.00 target price on shares of Koppers in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Koppers from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Koppers Price Performance

Shares of NYSE:KOP opened at $30.20 on Monday. The company’s fifty day moving average price is $30.97 and its 200-day moving average price is $34.79. The firm has a market capitalization of $612.20 million, a price-to-earnings ratio of 8.58 and a beta of 1.83. Koppers Holdings Inc. has a one year low of $28.57 and a one year high of $58.23. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. This is a positive change from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is currently 9.09%.

Koppers 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.