Koppers (NYSE:KOP) Shares Gap Down to $52.91

Koppers Holdings Inc. (NYSE:KOP)’s share price gapped down before the market opened on Friday . The stock had previously closed at $52.91, but opened at $51.60. Koppers shares last traded at $47.39, with a volume of 46,126 shares changing hands.

Analyst Ratings Changes

KOP has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Koppers in a research note on Friday. Singular Research raised shares of Koppers from a “hold” rating to a “buy” rating and set a $67.50 target price on the stock in a research report on Wednesday, March 13th.

Koppers Stock Performance

The company has a market capitalization of $924.69 million, a PE ratio of 10.60 and a beta of 1.86. The company has a current ratio of 2.14, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The business’s fifty day moving average is $53.83 and its two-hundred day moving average is $48.69.

Koppers (NYSE:KOP) last posted its quarterly earnings results on Friday, May 3rd. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Koppers had a return on equity of 20.10% and a net margin of 4.14%. The firm had revenue of $497.60 million during the quarter, compared to analysts’ expectations of $497.00 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Koppers Holdings Inc. will post 4.57 earnings per share for the current year.

Koppers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, May 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.64%. Koppers’s payout ratio is 6.75%.

Insider Buying and Selling

In other Koppers news, COO James A. Sullivan sold 700 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the completion of the sale, the chief operating officer now directly owns 111,192 shares in the company, valued at approximately $6,005,479.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Joseph P. Dowd sold 3,488 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $53.61, for a total value of $186,991.68. Following the transaction, the vice president now owns 36,969 shares of the company’s stock, valued at $1,981,908.09. The transaction 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 that occurred on Monday, March 4th. The shares were sold at an average price of $54.01, for a total transaction of $37,807.00. Following the sale, the chief operating officer now owns 111,192 shares of the company’s stock, valued at $6,005,479.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,591 shares of company stock worth $1,700,094. 6.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Koppers

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Koppers in the third quarter worth about $466,000. Advisor Partners II LLC bought a new stake in Koppers during the 3rd quarter worth approximately $459,000. Skylands Capital LLC purchased a new position in Koppers during the third quarter valued at approximately $1,022,000. Allspring Global Investments Holdings LLC boosted its position in shares of Koppers by 617.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 63,727 shares of the specialty chemicals company’s stock worth $2,520,000 after purchasing an additional 54,841 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Koppers by 53.9% in the third quarter. Teacher Retirement System of Texas now owns 26,001 shares of the specialty chemicals company’s stock worth $1,028,000 after purchasing an additional 9,103 shares in the last quarter. Institutional investors own 92.75% of the company’s stock.

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.