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

Koppers (NYSE:KOP) posted its quarterly earnings results on Friday. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01, Briefing.com reports. The company had revenue of $497.60 million for the quarter, compared to the consensus estimate of $497.00 million. Koppers had a return on equity of 20.10% and a net margin of 4.14%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 EPS. 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 NYSE KOP traded down $8.94 during midday trading on Friday, hitting $43.97. 328,293 shares of the company’s stock traded hands, compared to its average volume of 112,187. The firm has a fifty day moving average of $53.83 and a 200 day moving average of $48.69. Koppers has a 1 year low of $28.45 and a 1 year high of $58.23. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 2.14. The stock has a market capitalization of $924.69 million, a price-to-earnings ratio of 10.60 and a beta of 1.86.

Koppers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders 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 yield of 0.64%. Koppers’s payout ratio is 6.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KOP shares. Singular Research upgraded Koppers from a “hold” rating to a “buy” rating and set a $67.50 price target for the company in a report on Wednesday, March 13th. Barrington Research restated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research note on Friday.

Insider Buying and Selling

In other Koppers news, VP Joseph P. Dowd sold 3,488 shares of the company’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 sale, the vice president now directly owns 36,969 shares of the company’s stock, valued at $1,981,908.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Koppers news, VP Joseph P. Dowd sold 3,488 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $53.61, for a total value of $186,991.68. Following the completion of the sale, the vice president now owns 36,969 shares in the company, valued at $1,981,908.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO M Leroy Ball sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $53.51, for a total value of $267,550.00. Following the transaction, the chief executive officer now owns 323,080 shares of the company’s stock, valued at $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 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.