Pzena Investment Management LLC Has $29.44 Million Stock Holdings in Koppers Holdings Inc. (NYSE:KOP)

Pzena Investment Management LLC boosted its holdings in Koppers Holdings Inc. (NYSE:KOP - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 908,772 shares of the specialty chemicals company's stock after buying an additional 138,603 shares during the period. Pzena Investment Management LLC owned approximately 4.48% of Koppers worth $29,444,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in KOP. Principal Financial Group Inc. increased its position in shares of Koppers by 20.7% during the third 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. Charles Schwab Investment Management Inc. increased its position in shares of Koppers by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,871 shares of the specialty chemicals company's stock valued at $15,521,000 after purchasing an additional 20,586 shares during the period. Bank of New York Mellon Corp increased its position in shares of 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 during the period. Hennessy Advisors Inc. increased its position in shares of 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 bought a new stake in shares of Koppers during the third quarter valued at approximately $4,022,000. 92.75% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently issued reports on KOP shares. 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. StockNews.com raised Koppers from a "sell" rating to a "hold" rating in a research note on Thursday.

Koppers Price Performance

Koppers stock traded up $1.64 on Friday, reaching $30.02. The company's stock had a trading volume of 183,221 shares, compared to its average volume of 139,942. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.13 and a current ratio of 2.54. Koppers Holdings Inc. has a twelve month low of $27.00 and a twelve month high of $56.96. The company has a market cap of $615.07 million, a price-to-earnings ratio of 8.53 and a beta of 1.74. The business's fifty day moving average price is $30.33 and its 200 day moving average price is $34.04.

Koppers (NYSE:KOP - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. 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 firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $497.00 million. Equities analysts expect that Koppers Holdings Inc. will post 4.24 earnings per share for the current fiscal year.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, March 7th. This is an increase from Koppers's previous quarterly dividend of $0.07. Koppers's dividend payout ratio is currently 13.17%.

Koppers announced that its board has approved a share repurchase plan 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 plans are typically a sign that the company's management believes its stock is undervalued.

Koppers Company 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.