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

Koppers (NYSE:KOP) announced its earnings results on Friday. The specialty chemicals company reported $0.62 EPS for the quarter, topping the consensus estimate 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 return on equity of 20.10% and a net margin of 4.14%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business 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 Trading Down 16.9 %

NYSE KOP traded down $8.94 during trading hours on Friday, hitting $43.97. 328,293 shares of the company’s stock were exchanged, compared to its average volume of 112,187. The firm has a market cap of $924.69 million, a price-to-earnings ratio of 10.60 and a beta of 1.86. The stock has a 50-day simple moving average of $53.83 and a 200 day simple moving average of $48.69. The company has a current ratio of 2.14, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. Koppers has a 1-year low of $28.45 and a 1-year high of $58.23.

Koppers Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, May 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. Koppers’s payout ratio is 6.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KOP shares. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a research note on Friday. Singular Research upgraded shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 price target on the stock in a research report on Wednesday, March 13th.

Insider Buying and Selling at Koppers

In related news, CEO M Leroy Ball sold 5,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $53.51, for a total transaction of $267,550.00. Following the transaction, the chief executive officer now directly owns 323,080 shares of the company’s stock, valued at $17,288,010.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Koppers news, VP Joseph P. Dowd sold 3,488 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $53.61, for a total value of $186,991.68. Following the transaction, the vice president now owns 36,969 shares in the company, valued at $1,981,908.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,591 shares of company stock valued at $1,700,094. 6.55% of the stock is currently owned by company insiders.

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.