Renaissance Technologies LLC Has $5.08 Million Stake in Koppers Holdings Inc. (NYSE:KOP)

Renaissance Technologies LLC increased its holdings in shares of Koppers Holdings Inc. (NYSE:KOP - Free Report) by 101.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,632 shares of the specialty chemicals company's stock after purchasing an additional 78,732 shares during the quarter. Renaissance Technologies LLC owned approximately 0.77% of Koppers worth $5,075,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KOP. Federated Hermes Inc. increased its position in shares of Koppers by 16.8% during the 4th quarter. Federated Hermes Inc. now owns 83,402 shares of the specialty chemicals company's stock worth $2,702,000 after purchasing an additional 11,980 shares during the last quarter. Foundry Partners LLC increased its holdings in Koppers by 61.3% during 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 during the last quarter. Villanova Investment Management Co LLC raised its position in Koppers by 71.5% during the fourth quarter. Villanova Investment Management Co LLC now owns 49,729 shares of the specialty chemicals company's stock worth $1,611,000 after acquiring an additional 20,735 shares in the last quarter. Trexquant Investment LP raised its position in Koppers by 34.8% during the fourth quarter. Trexquant Investment LP now owns 60,948 shares of the specialty chemicals company's stock worth $1,975,000 after acquiring an additional 15,744 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its stake in Koppers by 41.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 30,850 shares of the specialty chemicals company's stock valued at $1,000,000 after acquiring an additional 9,009 shares during the last quarter. Institutional investors own 92.75% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KOP. Barrington Research reaffirmed an "outperform" rating and issued 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 research note on Saturday, March 22nd.

Koppers Stock Performance

Shares of NYSE:KOP traded up $0.08 on Wednesday, hitting $24.73. The company had a trading volume of 247,308 shares, compared to its average volume of 157,569. The stock has a 50 day moving average price of $27.95 and a 200 day moving average price of $31.90. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83. The stock has a market cap of $506.56 million, a price-to-earnings ratio of 7.02 and a beta of 1.50. Koppers Holdings Inc. has a 1-year low of $22.99 and a 1-year high of $54.07.

Koppers (NYSE:KOP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.71% and a net margin of 3.55%. The company had revenue of $477.00 million for the quarter, compared to analyst estimates of $497.00 million. Analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current year.

Koppers declared that its board has approved a stock buyback plan on Thursday, February 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Koppers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Koppers's previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 7th. Koppers's dividend payout ratio is currently 13.17%.

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.