1 week Ago By ABMN Staff
Vanguard Group Inc. reduced its position in Koppers Holdings Inc. ( NYSE:KOP – Free Report ) by 1.
0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,343,103 shares of the specialty chemicals company’s stock after selling 22,788 shares during the quarter.
Vanguard Group Inc. owned approximately 0.12% of Koppers worth $75,917,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. US Bancorp DE boosted its stake in Koppers by 145.1% in the 4th quarter.
US Bancorp DE now owns 2,027 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 1,200 shares during the period. R Squared Ltd acquired a new stake in shares of Koppers in the fourth quarter worth $69,000. Public Employees Retirement System of Ohio boosted its position in shares of 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 worth $106,000 after buying an additional 2,253 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Koppers during the fourth quarter valued at $136,000.
Finally, Point72 Asset Management L.P. purchased a new stake in Koppers in the 3rd quarter worth about $161,000.
92.75% of the stock is owned by hedge funds and other institutional investors. Koppers Price Performance KOP opened at $24.
39 on Friday. The stock has a fifty day moving average price of $28.77 and a 200 day moving average price of $32.
55. 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 1 year low of $22.99 and a 1 year high of $56.74.
The stock has a market cap of $499.55 million, a price-to-earnings ratio of 6.93 and a beta of 1.
50. Koppers declared that its board has approved a stock buyback program on Thursday, February 27th that allows the company to buyback $100.00 million in outstanding 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 typically a sign that the company’s board of directors believes its stock is 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 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 dividend yield of 1.
31%. This is an increase from Koppers’s previous quarterly dividend of $0.07.
Koppers’s dividend payout ratio (DPR) is currently 13.17%. Wall Street Analysts Forecast Growth Several equities analysts have weighed in on KOP shares.
Barrington Research reaffirmed an “outperform” rating and set a $64.00 target price on shares of Koppers in a research note on Monday, February 24th. StockNews.
com raised shares of Koppers from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Read Our Latest Stock Report on Koppers Koppers Company Profile ( Free Report ) 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.
See Also Want to see what other hedge funds are holding KOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Koppers Holdings Inc. ( NYSE:KOP – Free Report ).
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