Koppers (NYSE:KOP) Releases 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 earnings per share (EPS) 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 analyst estimates of $497.00 million. Koppers had a net margin of 4.14% and a return on equity of 20.10%. Koppers’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. 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 KOP traded down $8.94 during mid-day trading on Friday, reaching $43.97. 328,293 shares of the company’s stock traded hands, compared to its average volume of 112,187. Koppers has a 12 month low of $28.45 and a 12 month high of $58.23. The stock has a market capitalization of $924.69 million, a P/E ratio of 10.60 and a beta of 1.86. The business’s 50-day moving average price is $53.83 and its 200-day moving average price is $48.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 2.14.

Koppers Dividend Announcement

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 paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, May 23rd. Koppers’s payout ratio is 6.75%.

Insider Activity at Koppers

In other Koppers news, SVP Leslie S. Hyde sold 22,403 shares of Koppers stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $53.91, for a total value of $1,207,745.73. Following the transaction, the senior vice president now owns 55,658 shares in the company, valued at $3,000,522.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO M Leroy Ball sold 5,000 shares of Koppers stock in a transaction on Monday, March 4th. The stock was sold at an average price of $53.51, for a total transaction of $267,550.00. Following the transaction, the chief executive officer now owns 323,080 shares in the company, valued at $17,288,010.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leslie S. Hyde sold 22,403 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $53.91, for a total value of $1,207,745.73. Following the completion of the sale, the senior vice president now directly owns 55,658 shares of the company’s stock, valued at $3,000,522.78. The disclosure for this sale can be found here. Insiders have sold a total of 31,591 shares of company stock worth $1,700,094 in the last three months. 6.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

KOP has been the subject of several analyst reports. Singular Research upgraded Koppers from a “hold” rating to a “buy” rating and set a $67.50 target price for the company in a research note on Wednesday, March 13th. Barrington Research restated an “outperform” rating and issued a $64.00 price target 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.