Koppers (NYSE:KOP) Reaches New 1-Year Low Following Weak Earnings

Koppers Holdings Inc. (NYSE:KOP - Get Free Report)'s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $27.56 and last traded at $28.78, with a volume of 87296 shares. The stock had previously closed at $32.27.

The specialty chemicals company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.18). Koppers had a net margin of 3.55% and a return on equity of 16.71%. The business had revenue of $477.00 million during the quarter, compared to the consensus estimate of $497.00 million.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. This is a boost from Koppers's previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 7th. Koppers's payout ratio is 9.09%.

Koppers declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barrington Research reaffirmed an "outperform" rating and set a $64.00 target price on shares of Koppers in a report on Monday, February 24th. StockNews.com upgraded Koppers from a "sell" rating to a "hold" rating in a report on Monday, November 11th.

Institutional Investors Weigh In On Koppers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in Koppers by 265.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 10,626 shares of the specialty chemicals company's stock worth $344,000 after acquiring an additional 7,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Koppers by 51.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,462 shares of the specialty chemicals company's stock worth $2,056,000 after purchasing an additional 21,565 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Koppers by 332.1% during the fourth quarter. Two Sigma Advisers LP now owns 33,700 shares of the specialty chemicals company's stock worth $1,092,000 after purchasing an additional 25,900 shares during the period. Two Sigma Investments LP raised its position in shares of Koppers by 63.6% in the fourth quarter. Two Sigma Investments LP now owns 68,209 shares of the specialty chemicals company's stock valued at $2,210,000 after buying an additional 26,529 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Koppers by 66.3% in the fourth quarter. State of Wyoming now owns 4,422 shares of the specialty chemicals company's stock valued at $143,000 after buying an additional 1,763 shares during the period. Institutional investors and hedge funds own 92.75% of the company's stock.

Koppers Stock Down 4.2 %

The stock has a 50-day moving average of $30.88 and a 200-day moving average of $34.60. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13. The firm has a market cap of $565.30 million, a price-to-earnings ratio of 7.92 and a beta of 1.83.

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.