Koppers (NYSE:KOP) to Repurchase $100.00 million in Shares

Koppers (NYSE:KOP) announced that its board has initiated a stock repurchase program on Thursday, February 27th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase up to 16.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Koppers Trading Down 0.6 %

Shares of Koppers stock opened at $29.07 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.54 and a debt-to-equity ratio of 1.83. The firm has a market cap of $589.12 million, a price-to-earnings ratio of 8.26 and a beta of 1.83. The business has a fifty day simple moving average of $30.88 and a 200-day simple moving average of $34.62. Koppers has a fifty-two week low of $27.33 and a fifty-two week high of $58.23.

Koppers (NYSE:KOP) last announced its quarterly earnings data on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.18). The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $497.00 million. Koppers had a net margin of 3.55% and a return on equity of 16.71%. On average, equities analysts forecast that Koppers will post 4.24 EPS for the current fiscal year.

Koppers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Koppers’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Koppers’s payout ratio is 9.09%.

Analysts Set New Price Targets

Several research firms have issued reports on KOP. StockNews.com upgraded Koppers from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Barrington Research restated an “outperform” rating and set a $64.00 price objective on shares of Koppers in a research report on Monday, February 24th.

Koppers Company Profile

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.