Koppers (NYSE:KOP) Announces Earnings Results

Koppers (NYSE:KOP) issued its earnings results on Friday. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01, Briefing.com reports. The firm had revenue of $497.60 million during the quarter, compared to analyst estimates of $497.00 million. Koppers had a net margin of 3.59% and a return on equity of 17.19%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. Koppers updated its FY24 guidance to $4.10-4.60 EPS and its FY 2024 guidance to 4.100-4.600 EPS.

Koppers Stock Performance

Shares of KOP stock opened at $43.97 on Monday. The company’s 50 day moving average is $53.83 and its 200 day moving average is $48.77. The company has a quick ratio of 1.00, a current ratio of 2.29 and a debt-to-equity ratio of 1.70. The firm has a market cap of $924.69 million, a price-to-earnings ratio of 12.39 and a beta of 1.86. Koppers has a 52-week low of $28.45 and a 52-week high of $58.23.

Koppers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be given a $0.07 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. Koppers’s payout ratio is presently 7.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $64.00 target price on shares of Koppers in a research report on Friday. Singular Research raised Koppers from a “hold” rating to a “buy” rating and set a $67.50 target price for the company in a research report on Wednesday, March 13th.

Insiders Place Their Bets

In other news, SVP Leslie S. Hyde sold 22,403 shares of Koppers stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $53.91, for a total value of $1,207,745.73. Following the transaction, the senior vice president now directly owns 55,658 shares in the company, valued at approximately $3,000,522.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Joseph P. Dowd sold 3,488 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $53.61, for a total transaction of $186,991.68. Following the completion of the transaction, the vice president now owns 36,969 shares in the company, valued at approximately $1,981,908.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Leslie S. Hyde sold 22,403 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $53.91, for a total transaction of $1,207,745.73. Following the completion of the sale, the senior vice president now owns 55,658 shares of the company’s stock, valued at $3,000,522.78. The disclosure for this sale can be found here. Insiders sold a total of 31,591 shares of company stock worth $1,700,094 over the last 90 days. Company insiders own 6.55% of the company’s stock.

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.