New York State Common Retirement Fund Acquires 6,300 Shares of Koppers Holdings Inc. (NYSE:KOP)

New York State Common Retirement Fund lifted its holdings in Koppers Holdings Inc. (NYSE:KOP) by 54.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,970 shares of the specialty chemicals company’s stock after buying an additional 6,300 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Koppers worth $582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meeder Asset Management Inc. bought a new position in Koppers in the third quarter worth approximately $37,000. KBC Group NV increased 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 acquiring an additional 549 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Koppers by 277.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,520 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 1,117 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Koppers during the 4th quarter worth $69,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Koppers by 345.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,905 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 2,253 shares during the last quarter. 92.75% of the stock is owned by institutional investors.

Koppers Stock Performance

Shares of KOP stock opened at $27.89 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83. Koppers Holdings Inc. has a 12-month low of $27.00 and a 12-month high of $56.96. The business’s 50 day moving average is $30.73 and its two-hundred day moving average is $34.47. The company has a market capitalization of $565.20 million, a P/E ratio of 7.92 and a beta of 1.83.

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 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%. Analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers declared that its board has approved a stock buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Koppers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.15%. This is a positive change from Koppers’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 7th. Koppers’s dividend payout ratio is presently 13.17%.

Wall Street Analyst Weigh In

KOP has been the topic of several analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Koppers in a report on Monday, February 24th. StockNews.com downgraded Koppers from a “hold” rating to a “sell” rating in a research note on Monday.

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.