Koppers (NYSE:KOP) Issues Earnings Results

Koppers (NYSE:KOP) released its quarterly earnings results on Friday. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.12, Briefing.com reports. The firm had revenue of $554.30 million for the quarter, compared to the consensus estimate of $571.80 million. Koppers had a return on equity of 17.16% and a net margin of 3.72%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS. Koppers updated its FY24 guidance to $4.25-4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Koppers Stock Down 2.1 %

KOP traded down $0.81 on Friday, hitting $37.22. 179,178 shares of the company were exchanged, compared to its average volume of 85,355. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.12 and a current ratio of 2.53. The stock’s fifty day moving average is $36.44 and its 200-day moving average is $39.24. The company has a market cap of $763.75 million, a PE ratio of 10.20 and a beta of 1.84. Koppers has a 12 month low of $33.80 and a 12 month high of $58.23.

Koppers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, November 29th. Koppers’s dividend payout ratio is currently 7.67%.

Insiders Place Their Bets

In other news, VP Joseph P. Dowd sold 5,516 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $37.72, for a total value of $208,063.52. Following the completion of the sale, the vice president now owns 10,300 shares of the company’s stock, valued at approximately $388,516. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Singular Research raised Koppers to a “strong-buy” rating in a research report on Friday, September 20th. Barrington Research reiterated an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a report on Monday, November 4th.

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.