Kennedy Capital Management LLC Purchases New Stake in Koppers Holdings Inc. (NYSE:KOP)

Kennedy Capital Management LLC acquired a new position in Koppers Holdings Inc. (NYSE:KOP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 90,997 shares of the specialty chemicals company’s stock, valued at approximately $2,948,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position in shares of Koppers by 128.7% during the 3rd quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock worth $2,212,000 after buying an additional 34,074 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Koppers by 345.6% in the third quarter. Public Employees Retirement System of Ohio now owns 2,905 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 2,253 shares during the last quarter. Barclays PLC grew its holdings in Koppers by 356.9% during the 3rd quarter. Barclays PLC now owns 36,941 shares of the specialty chemicals company’s stock worth $1,350,000 after acquiring an additional 28,855 shares during the period. Franklin Resources Inc. raised its position in shares of Koppers by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 12,038 shares of the specialty chemicals company’s stock valued at $444,000 after acquiring an additional 655 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Koppers by 20.7% in 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 purchasing an additional 97,586 shares during the period. 92.75% of the stock is owned by institutional investors.

Koppers Stock Up 2.2 %

Shares of NYSE KOP opened at $24.92 on Monday. The firm has a 50 day moving average price of $28.67 and a 200 day moving average price of $32.44. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54. The stock has a market cap of $510.45 million, a P/E ratio of 7.08 and a beta of 1.50. Koppers Holdings Inc. has a 52-week low of $22.99 and a 52-week high of $56.74.

Koppers (NYSE:KOP) last released 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 firm had revenue of $477.00 million during the quarter, compared to the consensus estimate 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 year.

Koppers announced that its board has initiated a share repurchase program on Thursday, February 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 16.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Koppers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given 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 dividend yield of 1.28%. This is a positive change from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is currently 13.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KOP shares. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. Barrington Research restated an “outperform” rating and set a $64.00 target price on shares of Koppers in a report 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.