Koppers (NYSE:KOP) Stock Price Down 2.9% - Here's Why

Koppers Holdings Inc. (NYSE:KOP - Get Free Report) fell 2.9% during trading on Wednesday . The stock traded as low as $29.90 and last traded at $29.78. 17,927 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 139,034 shares. The stock had previously closed at $30.68.

Wall Street Analyst Weigh In

Several research firms have issued reports on KOP. StockNews.com upgraded shares of Koppers from a "sell" rating to a "hold" rating in a research note on Saturday. Barrington Research reiterated an "outperform" rating and set a $64.00 target price on shares of Koppers in a research note on Monday, February 24th.

Koppers Stock Down 5.6 %

The company's 50-day moving average price is $30.22 and its 200 day moving average price is $33.67. 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 $575.96 million, a PE ratio of 7.99 and a beta of 1.74.

Koppers (NYSE:KOP - Get Free Report) last announced its earnings results 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 business had revenue of $477.00 million for the quarter, compared to analysts' expectations of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. As a group, analysts forecast that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

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Koppers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, March 7th. This is an increase from Koppers's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.14%. Koppers's payout ratio is 13.17%.

Koppers announced that its Board of Directors has approved a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. KBC Group NV raised its stake in Koppers by 83.8% during the 3rd quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 549 shares during the period. Quarry LP bought a new stake in shares of Koppers during the 4th quarter valued at $40,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Koppers by 277.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,520 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 1,117 shares during the period. US Bancorp DE lifted its stake in shares of Koppers by 145.1% during the 4th quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company's stock valued at $66,000 after buying an additional 1,200 shares in the last quarter. Finally, R Squared Ltd bought a new position in Koppers in the 4th quarter worth $69,000. 92.75% of the stock is owned by hedge funds and other institutional investors.

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.