Koppers Holdings Inc. to Post Q3 2023 Earnings of $1.37 Per Share, B. Riley Forecasts (NYSE:KOP)

Koppers Holdings Inc. (NYSE:KOP – Get Rating) – Equities researchers at B. Riley issued their Q3 2023 earnings estimates for shares of Koppers in a report issued on Tuesday, February 28th. B. Riley analyst L. Burke anticipates that the specialty chemicals company will post earnings per share of $1.37 for the quarter. B. Riley has a “Buy” rating on the stock. The consensus estimate for Koppers’ current full-year earnings is $4.41 per share. B. Riley also issued estimates for Koppers’ Q4 2023 earnings at $1.07 EPS and FY2024 earnings at $4.79 EPS.

Koppers (NYSE:KOP – Get Rating) last announced its earnings results on Monday, February 27th. The specialty chemicals company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.19. The company had revenue of $482.60 million for the quarter, compared to analysts’ expectations of $503.25 million. Koppers had a return on equity of 22.55% and a net margin of 3.20%. Koppers’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share.

A number of other analysts also recently issued reports on the stock. Barrington Research raised their price objective on shares of Koppers to $40.00 in a report on Tuesday. StockNews.com raised shares of Koppers from a “hold” rating to a “buy” rating in a report on Wednesday, December 7th.

Koppers Price Performance

Koppers stock opened at $38.12 on Wednesday. The stock has a market cap of $796.63 million, a P/E ratio of 12.79 and a beta of 1.85. The company has a quick ratio of 1.03, a current ratio of 2.07 and a debt-to-equity ratio of 2.20. The company’s 50 day moving average price is $32.27 and its two-hundred day moving average price is $27.81. Koppers has a 52 week low of $20.11 and a 52 week high of $38.42.

Koppers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Friday, March 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, March 9th. This is a positive change from Koppers’s previous quarterly dividend of $0.05. Koppers’s dividend payout ratio (DPR) is currently 8.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in Koppers by 50.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,176 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 394 shares during the period. Captrust Financial Advisors boosted its position in shares of Koppers by 122.1% in the first quarter. Captrust Financial Advisors now owns 1,006 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 553 shares during the period. Quadrant Capital Group LLC grew its stake in Koppers by 48.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,692 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 554 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Koppers by 15.7% during the second quarter. Mutual of America Capital Management LLC now owns 3,551 shares of the specialty chemicals company’s stock valued at $80,000 after acquiring an additional 481 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Koppers by 14.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,933 shares of the specialty chemicals company’s stock worth $111,000 after acquiring an additional 489 shares during the period. 88.68% of the stock is owned by institutional investors.

About Koppers

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Koppers Holdings, Inc engages in the provision of treated wood products, wood treatment chemicals and carbon compounds. It operates through the following segments: Carbon Materials and Chemicals, Railroad and Utility Products and Services, and Performance Chemicals. The Carbon Materials and Chemicals segment manufactures carbon pitch naphthalene, creosote, and carbon black feedstock.