Federated Hermes Inc. Buys 11,980 Shares of Koppers Holdings Inc. (NYSE:KOP)

Federated Hermes Inc. lifted its position in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,402 shares of the specialty chemicals company's stock after buying an additional 11,980 shares during the period. Federated Hermes Inc. owned approximately 0.41% of Koppers worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Pzena Investment Management LLC raised its position in Koppers by 18.0% in the fourth quarter. Pzena Investment Management LLC now owns 908,772 shares of the specialty chemicals company's stock worth $29,444,000 after acquiring an additional 138,603 shares during the period. Principal Financial Group Inc. raised its holdings in Koppers by 20.7% in the 3rd quarter. Principal Financial Group Inc. now owns 568,787 shares of the specialty chemicals company's stock worth $20,778,000 after purchasing an additional 97,586 shares during the period. Bank of New York Mellon Corp lifted its position in Koppers by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 201,557 shares of the specialty chemicals company's stock valued at $6,530,000 after purchasing an additional 1,596 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in Koppers by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 184,500 shares of the specialty chemicals company's stock valued at $5,978,000 after purchasing an additional 11,800 shares during the period. Finally, Foundry Partners LLC increased its position in Koppers by 61.3% in the fourth quarter. Foundry Partners LLC now owns 177,570 shares of the specialty chemicals company's stock worth $5,753,000 after buying an additional 67,470 shares in the last quarter. Institutional investors own 92.75% of the company's stock.

Koppers Price Performance

Shares of NYSE:KOP traded up $0.79 during trading on Friday, hitting $24.88. 146,160 shares of the company's stock were exchanged, compared to its average volume of 155,897. The business's 50-day simple moving average is $28.28 and its 200 day simple moving average is $32.16. The company has a market cap of $509.75 million, a price-to-earnings ratio of 7.07 and a beta of 1.50. Koppers Holdings Inc. has a 52-week low of $22.99 and a 52-week high of $54.25. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.95 by ($0.18). Koppers had a net margin of 3.55% and a return on equity of 16.71%. The company had revenue of $477.00 million for the quarter, compared to analysts' expectations of $497.00 million. As a group, equities analysts predict that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.32 annualized dividend and a yield of 1.29%. This is a boost from Koppers's previous quarterly dividend of $0.07. Koppers's payout ratio is presently 13.17%.

Koppers announced that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

KOP has been the subject of several analyst reports. StockNews.com raised shares of Koppers from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Barrington Research restated an "outperform" rating and set a $64.00 price objective on shares of Koppers in a research report on Monday, February 24th.

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.