Koppers (NYSE:KOP) Issues Quarterly Earnings Results

Koppers (NYSE:KOP - Get Free Report) released its earnings results on Friday. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01, Briefing.com reports. The firm had revenue of $497.60 million for the quarter, compared to the consensus estimate of $497.00 million. Koppers had a net margin of 4.14% and a return on equity of 20.10%. The company's revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $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

KOP traded down $8.94 during midday trading on Friday, hitting $43.97. 328,293 shares of the company traded hands, compared to its average volume of 112,187. The company has a quick ratio of 0.93, a current ratio of 2.14 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $924.69 million, a PE ratio of 10.60 and a beta of 1.86. The company's 50-day moving average is $53.83 and its 200 day moving average is $48.69. Koppers has a 52 week low of $28.45 and a 52 week high of $58.23.

Koppers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 24th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, May 23rd. Koppers's dividend payout ratio (DPR) is 6.75%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barrington Research reissued an "outperform" rating and set a $64.00 price objective on shares of Koppers in a research report on Friday. Singular Research raised shares of Koppers from a "hold" rating to a "buy" rating and set a $67.50 price objective on the stock in a research report on Wednesday, March 13th.

Insider Buying and Selling at Koppers

In other Koppers news, COO James A. Sullivan sold 700 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the transaction, the chief operating officer now owns 111,192 shares in the company, valued at approximately $6,005,479.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $53.61, for a total transaction of $186,991.68. Following the transaction, the vice president now owns 36,969 shares in the company, valued at approximately $1,981,908.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James A. Sullivan sold 700 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the transaction, the chief operating officer now owns 111,192 shares in the company, valued at approximately $6,005,479.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,591 shares of company stock worth $1,700,094. Company insiders own 6.55% of the company's stock.

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.