Koppers (NYSE:KOP) Updates FY24 Earnings Guidance

Koppers (NYSE:KOPGet Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.60-4.80 for the period, compared to the consensus EPS estimate of $4.71. The company issued revenue guidance of approximately $2.25 billion, compared to the consensus revenue estimate of $2.19 billion. Koppers also updated its FY 2024 guidance to 4.600-4.800 EPS.

Koppers Stock Up 7.6 %

Koppers stock traded up $4.01 during midday trading on Wednesday, hitting $57.03. 229,046 shares of the company were exchanged, compared to its average volume of 125,761. The company’s fifty day moving average price is $50.70 and its 200-day moving average price is $43.80. The company has a market cap of $1.19 billion, a PE ratio of 13.55 and a beta of 1.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.24 and a quick ratio of 1.05. Koppers has a fifty-two week low of $28.45 and a fifty-two week high of $57.15.

Koppers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, March 7th. This is a positive change from Koppers’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.49%. Koppers’s payout ratio is 5.70%.

Analysts Set New Price Targets

KOP has been the topic of several recent research reports. StockNews.com lowered Koppers from a hold rating to a sell rating in a research report on Friday, December 29th. Barrington Research reissued an outperform rating and set a $64.00 price target on shares of Koppers in a research report on Wednesday.

Check Out Our Latest Stock Report on KOP

Insider Buying and Selling at Koppers

In other Koppers news, COO James A. Sullivan sold 3,781 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $44.09, for a total value of $166,704.29. Following the transaction, the chief operating officer now directly owns 94,786 shares of the company’s stock, valued at approximately $4,179,114.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO James A. Sullivan sold 3,781 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $44.09, for a total transaction of $166,704.29. Following the sale, the chief operating officer now directly owns 94,786 shares of the company’s stock, valued at approximately $4,179,114.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO M Leroy Ball sold 13,102 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.60, for a total value of $584,349.20. Following the sale, the chief executive officer now directly owns 296,421 shares in the company, valued at $13,220,376.60. The disclosure for this sale can be found here. Insiders have sold a total of 78,227 shares of company stock valued at $3,522,762 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Koppers

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Koppers by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,474,003 shares of the specialty chemicals company’s stock valued at $95,605,000 after acquiring an additional 19,214 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Koppers by 9.4% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,126,729 shares of the specialty chemicals company’s stock worth $58,528,000 after buying an additional 181,916 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Koppers by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 974,874 shares of the specialty chemicals company’s stock worth $34,090,000 after buying an additional 72,360 shares during the last quarter. State Street Corp grew its stake in Koppers by 2.4% during the 2nd quarter. State Street Corp now owns 750,500 shares of the specialty chemicals company’s stock worth $16,991,000 after buying an additional 17,421 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Koppers by 17.9% during the 1st quarter. Invesco Ltd. now owns 414,730 shares of the specialty chemicals company’s stock worth $11,414,000 after buying an additional 63,088 shares during the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.

About Koppers

(Get Free Report)

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 three segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).The RUPS segment procures and treats crossties, switch ties, and various types of lumber used for railroad bridges and crossings.

Further Reading

Earnings History and Estimates for Koppers (NYSE:KOP)

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