Koppers (NYSE:KOP) Posts Earnings Results, Beats Expectations By $0.01 EPS

Koppers (NYSE:KOP) announced its quarterly earnings results on Friday. The specialty chemicals company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01, Briefing.com reports. Koppers had a net margin of 4.14% and a return on equity of 20.10%. The company had revenue of $497.60 million for the quarter, compared to analyst estimates of $497.00 million. During the same quarter in the prior year, the business posted $1.12 EPS. Koppers’s quarterly revenue was down 3.1% on a year-over-year basis. 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 traded down $8.94 during mid-day trading on Friday, hitting $43.97. The company’s stock had a trading volume of 328,293 shares, compared to its average volume of 112,187. Koppers has a one year low of $28.45 and a one year high of $58.23. The stock’s 50-day moving average is $53.83 and its two-hundred day moving average is $48.69. The firm has a market capitalization of $924.69 million, a PE ratio of 10.60 and a beta of 1.86. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 2.14.

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 issued a dividend of $0.07 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.64%. Koppers’s dividend payout ratio (DPR) is presently 6.75%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KOP. Barrington Research reissued an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a research note on Friday. Singular Research upgraded shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 price objective for the company in a research note on Wednesday, March 13th.

Insider Buying and Selling

In other Koppers news, CEO M Leroy Ball sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $53.51, for a total value of $267,550.00. Following the completion of the transaction, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Leslie S. Hyde sold 22,403 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 55,658 shares of the company’s stock, valued at approximately $3,000,522.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO M Leroy Ball sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $53.51, for a total value of $267,550.00. Following the completion of the sale, the chief executive officer now directly owns 323,080 shares in the company, valued at approximately $17,288,010.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,591 shares of company stock valued at $1,700,094. 6.55% of the stock is owned by company insiders.

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.