Koppers Holdings Inc. Forecasted to Earn Q2 2024 Earnings of $1.30 Per Share (NYSE:KOP)

Koppers Holdings Inc. (NYSE:KOP) – Barrington Research boosted their Q2 2024 EPS estimates for shares of Koppers in a research note issued to investors on Tuesday, March 26th. Barrington Research analyst G. Prestopino now forecasts that the specialty chemicals company will earn $1.30 per share for the quarter, up from their previous estimate of $1.27. Barrington Research has a “Outperform” rating and a $64.00 price objective on the stock. The consensus estimate for Koppers’ current full-year earnings is $4.59 per share.

Koppers (NYSE:KOP) last released its quarterly earnings data on Wednesday, February 28th. The specialty chemicals company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.05). The company had revenue of $513.20 million during the quarter, compared to analyst estimates of $483.67 million. Koppers had a net margin of 4.14% and a return on equity of 20.10%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS.

KOP has been the subject of several other reports. StockNews.com downgraded shares of Koppers from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Singular Research raised shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 target price for the company in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Koppers Stock Performance

KOP stock opened at $55.12 on Friday. 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 company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.28 and a beta of 1.87. Koppers has a 12 month low of $28.45 and a 12 month high of $58.23. The firm has a 50 day moving average of $52.43 and a two-hundred day moving average of $46.01.

Institutional Trading of Koppers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd raised its position in Koppers by 1.7% during the fourth quarter. Quadrature Capital Ltd now owns 15,379 shares of the specialty chemicals company’s stock worth $788,000 after acquiring an additional 251 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Koppers in the fourth quarter valued at $26,000. Barclays PLC increased its holdings in shares of Koppers by 113.9% in the fourth quarter. Barclays PLC now owns 39,500 shares of the specialty chemicals company’s stock valued at $2,023,000 after purchasing an additional 21,035 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Koppers by 67.5% in the fourth quarter. Public Sector Pension Investment Board now owns 43,210 shares of the specialty chemicals company’s stock valued at $2,213,000 after purchasing an additional 17,413 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Koppers by 4.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 157,512 shares of the specialty chemicals company’s stock valued at $8,068,000 after purchasing an additional 6,912 shares during the last quarter. 92.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Koppers

In related 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 transaction of $1,207,745.73. Following the transaction, the senior vice president now owns 55,658 shares of the company’s stock, valued at approximately $3,000,522.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO M Leroy Ball sold 5,000 shares of the business’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 sale, the chief executive officer now 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 is accessible through the SEC website. Also, SVP Leslie S. Hyde sold 22,403 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $53.91, for a total transaction of $1,207,745.73. Following the completion of the sale, the senior vice president now directly owns 55,658 shares in the company, valued at approximately $3,000,522.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,591 shares of company stock worth $1,700,094. 7.00% of the stock is currently owned by corporate insiders.

Koppers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Koppers’s previous quarterly dividend of $0.06. Koppers’s dividend payout ratio (DPR) is presently 6.75%.

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.