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

Koppers Holdings Inc. (NYSE:KOP) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 1.07%. This is an increase from Koppers’s previous quarterly dividend of $0.07.

Koppers has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 2.4 %

Shares of NYSE:KOP opened at $29.92 on Thursday. Koppers has a 12-month low of $28.57 and a 12-month high of $58.23. The stock has a market capitalization of $606.48 million, a price-to-earnings ratio of 8.50 and a beta of 1.83. The stock has a fifty day simple moving average of $31.62 and a two-hundred day simple moving average of $35.16. The company has a current ratio of 2.54, a quick ratio of 1.13 and a debt-to-equity ratio of 1.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KOP shares. StockNews.com upgraded shares of 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 target price on shares of Koppers in a report on Tuesday, November 12th.

Insider Buying and Selling at Koppers

In related news, Director Stephen R. Tritch sold 3,533 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $37.08, for a total transaction of $131,003.64. Following the completion of the sale, the director now owns 47,737 shares in the company, valued at approximately $1,770,087.96. This represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO M Leroy Ball sold 6,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $37.26, for a total value of $223,560.00. Following the completion of the transaction, the chief executive officer now directly owns 314,325 shares in the company, valued at approximately $11,711,749.50. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Company 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.