Koppers Holdings Inc. (NYSE:KOP) Raises Dividend to $0.08 Per Share

Koppers Holdings Inc. (NYSE:KOP) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.08 per share by the specialty chemicals company on Monday, March 24th. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. This is a boost from Koppers’s previous quarterly dividend of $0.07.

Koppers has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Koppers to earn $4.31 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 1.5 %

KOP traded down $0.46 during trading hours on Wednesday, reaching $30.21. The company’s stock had a trading volume of 8,982 shares, compared to its average volume of 103,051. The stock has a market cap of $612.26 million, a PE ratio of 8.59 and a beta of 1.83. Koppers has a fifty-two week low of $28.57 and a fifty-two week high of $58.23. 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 business’s 50-day moving average is $31.77 and its 200-day moving average is $35.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KOP. Barrington Research reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Koppers in a research report on Tuesday, November 12th. StockNews.com raised Koppers from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Insider Transactions at Koppers

In other Koppers news, CEO M Leroy Ball sold 6,000 shares of Koppers stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $37.26, for a total value of $223,560.00. Following the transaction, the chief executive officer now directly owns 314,325 shares in the company, valued at approximately $11,711,749.50. The trade was a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Tritch sold 3,533 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 47,737 shares of the company’s stock, valued at $1,770,087.96. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.55% 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.