Koppers Holdings Inc. (NYSE:KOP) Shareholders Set to Receive $0.09 Quarterly Dividend

Koppers Holdings Inc. (NYSE:KOP) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Friday, November 27th will be given a dividend of $0.09 per share by the specialty chemicals company on Monday, December 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 27th.

Koppers has a payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Koppers to earn $4.87 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 7.4%.

Koppers Price Performance

Shares of NYSE KOP opened at $42.85 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.33 and a quick ratio of 1.01. The business has a 50-day moving average of $44.59 and a 200-day moving average of $41.62. The stock has a market capitalization of $810.30 million, a price-to-earnings ratio of -9.08 and a beta of 1.23. Koppers has a fifty-two week low of $25.00 and a fifty-two week high of $53.00.

Koppers (NYSE:KOP) last released its earnings results on Thursday, August 6th. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.25. The business had revenue of $520.10 million for the quarter, compared to analyst estimates of $506.10 million. Koppers had a positive return on equity of 14.98% and a negative net margin of 4.59%. Koppers’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. As a group, sell-side analysts predict that Koppers will post 4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Stephen Lucas sold 1,308 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $44.55, for a total value of $58,271.40. Following the completion of the sale, the senior vice president directly owned 34,345 shares of the company’s stock, valued at $1,530,069.75. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James Sullivan sold 7,500 shares of Koppers stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $50.00, for a total value of $375,000.00. Following the transaction, the insider owned 82,898 shares of the company’s stock, valued at $4,144,900. This represents a 8.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 97,808 shares of company stock worth $4,857,451 over the last ninety days. 7.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Koppers

A number of hedge funds have recently modified their holdings of the stock. Simplex Trading LLC acquired a new position in Koppers in the 3rd quarter valued at $90,000. Allspring Global Investments Holdings LLC increased its position in Koppers by 4.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,738 shares of the specialty chemicals company’s stock worth $666,000 after buying an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Koppers during the 3rd quarter worth $56,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Koppers by 7.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,600 shares of the specialty chemicals company’s stock worth $483,000 after buying an additional 700 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Koppers by 1,711.4% during the third quarter. Sterling Capital Management LLC now owns 6,666 shares of the specialty chemicals company’s stock worth $304,000 after buying an additional 6,298 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

About Koppers

Koppers Holdings Inc (NYSE:KOP) is a global provider of treated wood products, carbon compounds and performance chemicals. The company serves infrastructure, industrial and utility markets with products designed to preserve, protect and extend the service life of wood and other materials.

Koppers operates through two primary business areas: Railroad and Utility Products and Services, and Performance Chemicals. Its offerings include treated railroad crossties, utility poles, pilings and other wood products, as well as wood preservatives and related treatment services.