Koppers Holdings Inc. (NYSE:KOP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in Koppers Holdings Inc. (NYSE:KOP) by 9.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,746 shares of the specialty chemicals company’s stock after selling 8,423 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.41% of Koppers worth $2,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KOP. Janney Montgomery Scott LLC purchased a new stake in Koppers in the 4th quarter valued at $488,000. Empowered Funds LLC boosted its holdings in Koppers by 5.1% during the fourth quarter. Empowered Funds LLC now owns 107,819 shares of the specialty chemicals company’s stock worth $3,493,000 after buying an additional 5,233 shares in the last quarter. Rhumbline Advisers boosted its position in Koppers by 0.8% during the fourth quarter. Rhumbline Advisers now owns 70,685 shares of the specialty chemicals company’s stock worth $2,290,000 after purchasing an additional 574 shares in the last quarter. New York State Common Retirement Fund raised its position in Koppers by 54.0% during the fourth quarter. New York State Common Retirement Fund now owns 17,970 shares of the specialty chemicals company’s stock worth $582,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Waterfront Wealth Inc. acquired a new stake in Koppers during the 4th quarter valued at $428,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.

Koppers Trading Down 0.4%

Koppers stock opened at $30.60 on Tuesday. 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 firm’s 50-day moving average is $27.22 and its 200-day moving average is $30.28. The company has a market cap of $612.31 million, a P/E ratio of 8.69 and a beta of 1.44. Koppers Holdings Inc. has a 1 year low of $22.99 and a 1 year high of $44.64.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Friday, May 9th. The specialty chemicals company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.56 by $0.15. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $488.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. Koppers’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 earnings per share. On average, equities analysts expect that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Koppers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 30th. Koppers’s payout ratio is 27.59%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KOP shares. Barrington Research reissued an “outperform” rating and set a $64.00 price target on shares of Koppers in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Koppers from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd.

Koppers 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.