14,885 Shares in Koppers Holdings Inc. (NYSE:KOP) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Koppers Holdings Inc. (NYSE:KOP) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 14,885 shares of the specialty chemicals company’s stock, valued at approximately $482,000.

Several other institutional investors have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. increased its stake in shares of Koppers by 314.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 44,570 shares of the specialty chemicals company’s stock worth $1,628,000 after purchasing an additional 33,817 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Koppers during the third quarter valued at about $161,000. Jane Street Group LLC increased its position in Koppers by 128.7% in the third quarter. Jane Street Group LLC now owns 60,542 shares of the specialty chemicals company’s stock worth $2,212,000 after buying an additional 34,074 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Koppers by 345.6% in the third quarter. Public Employees Retirement System of Ohio now owns 2,905 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 2,253 shares during the period. Finally, Barclays PLC raised its stake in shares of Koppers by 356.9% in the third quarter. Barclays PLC now owns 36,941 shares of the specialty chemicals company’s stock worth $1,350,000 after buying an additional 28,855 shares during the period. 92.75% of the stock is currently owned by institutional investors.

Koppers Trading Down 2.8 %

Shares of KOP stock opened at $24.31 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 stock has a fifty day simple moving average of $29.33 and a two-hundred day simple moving average of $32.92. The firm has a market capitalization of $497.97 million, a PE ratio of 6.91 and a beta of 1.50. Koppers Holdings Inc. has a 52-week low of $23.33 and a 52-week high of $56.96.

Koppers (NYSE:KOP) last released its 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 return on equity of 16.71% and a net margin of 3.55%. The business had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $497.00 million. On average, analysts predict that Koppers Holdings Inc. will post 4.24 EPS for the current fiscal year.

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 given a dividend of $0.08 per share. The ex-dividend date was Friday, March 7th. This represents a $0.32 annualized dividend and a dividend yield of 1.32%. This is a boost from Koppers’s previous quarterly dividend of $0.07. Koppers’s dividend payout ratio (DPR) is presently 13.17%.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Koppers from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Barrington Research reiterated an “outperform” rating and issued a $64.00 price target on shares of Koppers in a research report on Monday, February 24th.

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.