Barrington Research Comments on Koppers Holdings Inc.’s Q1 2024 Earnings (NYSE:KOP)

Koppers Holdings Inc. (NYSE:KOP) – Stock analysts at Barrington Research reduced their Q1 2024 earnings per share estimates for shares of Koppers in a report issued on Tuesday, March 26th. Barrington Research analyst G. Prestopino now anticipates that the specialty chemicals company will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.72. Barrington Research currently has a “Outperform” rating and a $64.00 price target on the stock. The consensus estimate for Koppers’ current full-year earnings is $4.59 per share. Barrington Research also issued estimates for Koppers’ Q3 2024 earnings at $1.70 EPS.

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

Koppers Trading Up 0.9 %

Shares of NYSE:KOP opened at $54.76 on Thursday. Koppers has a 12-month low of $28.45 and a 12-month high of $58.23. The business’s fifty day simple moving average is $52.31 and its 200-day simple moving average is $45.95. The company has a market capitalization of $1.15 billion, a PE ratio of 13.20 and a beta of 1.87. 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 (NYSE:KOP) last issued its earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). The firm had revenue of $513.20 million for the quarter, compared to the consensus estimate of $483.67 million. Koppers had a net margin of 4.14% and a return on equity of 20.10%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share.

Koppers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.07 per share. 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 an increase from Koppers’s previous quarterly dividend of $0.06. Koppers’s payout ratio is presently 6.75%.

Insider Buying and Selling at Koppers

In other news, CEO M Leroy Ball sold 5,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $53.51, for a total value of $267,550.00. Following the completion of the transaction, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO M Leroy Ball sold 5,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $53.51, for a total value of $267,550.00. Following the completion of the transaction, the chief executive officer now owns 323,080 shares of the company’s stock, valued at approximately $17,288,010.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James A. Sullivan sold 700 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $54.01, for a total value of $37,807.00. Following the completion of the transaction, the chief operating officer now directly owns 111,192 shares of the company’s stock, 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. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Koppers

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Koppers by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,474,003 shares of the specialty chemicals company’s stock worth $95,605,000 after purchasing an additional 19,214 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Koppers by 9.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,126,729 shares of the specialty chemicals company’s stock valued at $58,528,000 after acquiring an additional 181,916 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Koppers by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,134 shares of the specialty chemicals company’s stock valued at $60,448,000 after acquiring an additional 82,741 shares during the last quarter. Rubric Capital Management LP raised its holdings in shares of Koppers by 6.9% during the third quarter. Rubric Capital Management LP now owns 1,138,592 shares of the specialty chemicals company’s stock valued at $45,031,000 after acquiring an additional 73,151 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Koppers by 2.4% during the second quarter. State Street Corp now owns 750,500 shares of the specialty chemicals company’s stock valued at $16,991,000 after acquiring an additional 17,421 shares during the last quarter. Institutional investors and hedge funds own 92.75% 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.