Sei Investments Co. Cuts Stock Position in Koppers Holdings Inc. (NYSE:KOP)

Sei Investments Co. lessened its position in shares of Koppers Holdings Inc. (NYSE:KOP) by 24.2% in the 4th quarter, HoldingsChannel reports. The fund owned 13,943 shares of the specialty chemicals company’s stock after selling 4,452 shares during the period. Sei Investments Co.’s holdings in Koppers were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of 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 buying an additional 1,200 shares during the last quarter. R Squared Ltd acquired a new stake in Koppers during the 4th quarter worth about $69,000. Public Employees Retirement System of Ohio grew its stake in Koppers by 345.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,905 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 2,253 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Koppers in the third quarter valued at about $161,000. Finally, EMC Capital Management raised its stake in shares of Koppers by 883.2% in the fourth quarter. EMC Capital Management now owns 6,538 shares of the specialty chemicals company’s stock worth $212,000 after purchasing an additional 5,873 shares during the last quarter. Hedge funds and other institutional investors own 92.75% of the company’s stock.

Koppers Stock Performance

KOP opened at $25.60 on Thursday. Koppers Holdings Inc. has a twelve month low of $22.99 and a twelve month high of $56.74. The firm has a market capitalization of $524.44 million, a PE ratio of 7.27 and a beta of 1.50. 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 $28.85 and its 200 day moving average price is $32.64.

Koppers (NYSE:KOP) last posted its earnings results on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share 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 during the quarter, compared to analyst estimates of $497.00 million. As a group, sell-side analysts expect that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

Koppers declared that its board has initiated a stock buyback program 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 programs are generally an indication that the company’s board believes its stock is undervalued.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were paid a $0.08 dividend. This is a boost from Koppers’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Friday, March 7th. Koppers’s dividend payout ratio (DPR) is presently 13.17%.

Analyst Ratings Changes

KOP has been the subject of a number of research reports. StockNews.com upgraded shares of Koppers from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Barrington Research reiterated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research note on Monday, February 24th.

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.