Byrne Asset Management LLC Takes $38,000 Position in Koppers Holdings Inc. (NYSE:KOP)

Byrne Asset Management LLC acquired a new stake in Koppers Holdings Inc. (NYSE:KOP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,360 shares of the specialty chemicals company’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in Koppers by 2.2% in the first quarter. SummerHaven Investment Management LLC now owns 22,451 shares of the specialty chemicals company’s stock valued at $629,000 after purchasing an additional 483 shares during the last quarter. Rhumbline Advisers increased its stake in Koppers by 0.8% in the fourth quarter. Rhumbline Advisers now owns 70,685 shares of the specialty chemicals company’s stock valued at $2,290,000 after purchasing an additional 574 shares during the last quarter. GAMMA Investing LLC increased its stake in Koppers by 112.9% in the first quarter. GAMMA Investing LLC now owns 1,835 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 973 shares during the last quarter. US Bancorp DE increased its stake in Koppers by 145.1% in 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 last quarter. Finally, Quarry LP acquired a new position in Koppers in the fourth quarter valued at $40,000. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

Koppers Stock Performance

Shares of NYSE:KOP opened at $31.86 on Friday. The firm has a market capitalization of $637.52 million, a PE ratio of 9.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13. The business has a 50-day moving average of $28.24 and a two-hundred day moving average of $29.97. Koppers Holdings Inc. has a 12 month low of $22.99 and a 12 month high of $41.64.

Koppers (NYSE:KOP) last announced its quarterly earnings results on Friday, May 9th. The specialty chemicals company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.56 by $0.15. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $488.00 million. Koppers had a return on equity of 16.71% and a net margin of 3.55%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, research analysts forecast that Koppers Holdings Inc. will post 4.24 earnings per share for the current year.

Koppers announced that its board has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Koppers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%. Koppers’s dividend payout ratio (DPR) is currently 27.59%.

Analyst Ratings Changes

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

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.