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

Koppers (NYSE:KOP) posted its quarterly earnings data on Friday. The specialty chemicals company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01, Briefing.com reports. Koppers had a return on equity of 17.19% and a net margin of 3.59%. The business had revenue of $497.60 million for the quarter, compared to the consensus estimate of $497.00 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. Koppers’s revenue for the quarter 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

NYSE:KOP opened at $43.97 on Monday. Koppers has a 52-week low of $28.45 and a 52-week high of $58.23. The business’s fifty day moving average is $53.83 and its 200 day moving average is $48.77. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.00 and a current ratio of 2.29. 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 Announces Dividend

The business 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. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, May 23rd. Koppers’s dividend payout ratio (DPR) is presently 7.89%.

Insiders Place Their Bets

In other news, CEO M Leroy Ball sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $53.51, for a total transaction of $267,550.00. Following the sale, the chief executive officer now directly owns 323,080 shares in the company, valued at $17,288,010.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Koppers news, CEO M Leroy Ball sold 5,000 shares of the firm’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 transaction, the chief executive officer now directly owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph P. Dowd sold 3,488 shares of the company’s stock in a transaction on Monday, March 4th. The stock was 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 directly owns 36,969 shares in the company, valued at approximately $1,981,908.09. The disclosure for this sale can be found here. Insiders sold a total of 31,591 shares of company stock worth $1,700,094 in the last quarter. 6.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research 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 research note on Wednesday, March 13th. Barrington Research reiterated an “outperform” rating and issued a $64.00 target price on shares of Koppers in a research note on Friday.

About Koppers

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.