Koppers (NYSE:KOP) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Koppers (NYSE:KOP) from a hold rating to a sell rating in a research report sent to investors on Monday.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Koppers in a research report on Monday, February 24th.

Koppers Price Performance

Shares of NYSE KOP opened at $27.89 on Monday. 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 firm’s 50-day moving average price is $30.81 and its 200-day moving average price is $34.54. The firm has a market capitalization of $565.30 million, a P/E ratio of 7.92 and a beta of 1.83. Koppers has a 1-year low of $27.33 and a 1-year high of $56.96.

Koppers (NYSE:KOP) last posted its quarterly earnings results on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.18). Koppers had a return on equity of 16.71% and a net margin of 3.55%. The firm had revenue of $477.00 million for the quarter, compared to analyst estimates of $497.00 million. Equities research analysts anticipate that Koppers will post 4.24 earnings per share for the current fiscal year.

Koppers Increases Dividend

The firm 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 $0.08 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.32 annualized dividend and a yield of 1.15%. This is a boost from Koppers’s previous quarterly dividend of $0.07. Koppers’s payout ratio is currently 13.17%.

Koppers announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty chemicals company to purchase up to 16.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Koppers

A number of hedge funds and other institutional investors have recently made changes to their positions in KOP. Meeder Asset Management Inc. bought a new stake in Koppers in the third quarter worth about $37,000. Quarry LP purchased a new stake in shares of Koppers during the 4th quarter worth approximately $40,000. KBC Group NV raised its holdings in shares of Koppers by 83.8% in the 3rd quarter. KBC Group NV now owns 1,204 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 549 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in Koppers by 277.2% in the third 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 last quarter. Finally, US Bancorp DE grew its holdings in Koppers by 145.1% during the fourth quarter. US Bancorp DE now owns 2,027 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 1,200 shares during the period. 92.75% of the stock is owned by hedge funds and other institutional investors.

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.