Koppers Holdings Inc. (KOP) To Go Ex-Dividend on November 29th

Koppers Holdings Inc. (NYSE:KOP) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.07 per share by the specialty chemicals company on Monday, December 16th. This represents a $0.28 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, November 29th.

Koppers has a dividend payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Koppers to earn $4.29 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 6.5%.

Koppers Trading Down 1.9 %

Shares of NYSE:KOP opened at $38.29 on Wednesday. Koppers has a 1 year low of $33.80 and a 1 year high of $58.23. The stock’s fifty day moving average price is $36.59 and its 200-day moving average price is $38.20. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.54 and a quick ratio of 1.13. The company has a market cap of $776.14 million, a P/E ratio of 10.88 and a beta of 1.84.

Koppers (NYSE:KOP) last issued its quarterly earnings results on Friday, November 8th. The specialty chemicals company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Koppers had a return on equity of 16.71% and a net margin of 3.55%. The business had revenue of $554.30 million during the quarter, compared to analysts’ expectations of $571.80 million. During the same quarter in the prior year, the business posted $1.32 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts expect that Koppers will post 4.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KOP. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 price objective on shares of Koppers in a research note on Tuesday, November 12th. Finally, Singular Research raised Koppers to a “strong-buy” rating in a research note on Friday, September 20th.

Insider Activity

In related news, CEO M Leroy Ball sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total transaction of $189,600.00. Following the transaction, the chief executive officer now directly owns 315,129 shares in the company, valued at $11,949,691.68. The trade was a 1.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Tritch sold 3,533 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total value of $131,003.64. Following the transaction, the director now owns 47,737 shares in the company, valued at approximately $1,770,087.96. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,533 shares of company stock worth $544,164. 6.55% of the stock is currently owned by company insiders.

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.