Koppers Holdings Inc. (NYSE:KOP) Plans $0.08 Quarterly Dividend

Key Points

• Koppers Holdings Inc. declared a $0.08 quarterly dividend, with an annualized yield of 1.0%, payable on September 15th to shareholders of record on August 29th.
• The company reported $0.71 earnings per share for the last quarter, exceeding estimates, while revenues declined 8.3% year-over-year, totaling $456.50 million.
• Koppers' stock showed positive movement, trading up 2.3% to $33.19, alongside strong institutional interest with hedge funds owning 92.75% of its stock.

Koppers Holdings Inc. (NYSE:KOP - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.08 per share by the specialty chemicals company on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 29th.

Koppers has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Koppers to earn $4.31 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.4%.

Koppers Stock Down 5.2%

Shares of KOP traded down $1.50 on Monday, reaching $27.35. The stock had a trading volume of 23,433 shares, compared to its average volume of 150,506. The firm has a market capitalization of $547.17 million, a price-to-earnings ratio of 38.15 and a beta of 1.40. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.11 and a current ratio of 2.60. The company has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $29.89. Koppers has a 12-month low of $22.99 and a 12-month high of $40.07.

Koppers (NYSE:KOP - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The specialty chemicals company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). Koppers had a return on equity of 17.43% and a net margin of 0.76%. The business had revenue of $504.80 million during the quarter, compared to analysts' expectations of $540.30 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts predict that Koppers will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Koppers by 112.7% in the fourth quarter. JPMorgan Chase & Co. now owns 141,582 shares of the specialty chemicals company's stock valued at $4,587,000 after buying an additional 75,022 shares during the last quarter. Federated Hermes Inc. lifted its position in Koppers by 16.8% in the fourth quarter. Federated Hermes Inc. now owns 83,402 shares of the specialty chemicals company's stock valued at $2,702,000 after purchasing an additional 11,980 shares during the period. Renaissance Technologies LLC increased its holdings in Koppers by 101.1% in the fourth quarter. Renaissance Technologies LLC now owns 156,632 shares of the specialty chemicals company's stock valued at $5,075,000 after buying an additional 78,732 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Koppers in the fourth quarter valued at about $482,000. Finally, LSV Asset Management increased its holdings in Koppers by 0.4% in the fourth quarter. LSV Asset Management now owns 632,862 shares of the specialty chemicals company's stock valued at $20,505,000 after buying an additional 2,312 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors and hedge funds.

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.