Stock Repurchase Program Authorized by Koppers (NYSE:KOP) Board of Directors

Koppers (NYSE:KOP - Get Free Report) declared that its Board of Directors has approved a share buyback plan on Thursday, February 27th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Koppers Stock Performance

Koppers stock traded down $1.22 during midday trading on Monday, hitting $27.89. The company's stock had a trading volume of 312,304 shares, compared to its average volume of 130,430. 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 $565.30 million, a price-to-earnings ratio of 7.92 and a beta of 1.83. Koppers has a 1-year low of $27.33 and a 1-year high of $56.96. The company has a 50-day moving average price of $30.88 and a two-hundred day moving average price of $34.60.

Koppers (NYSE:KOP - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The specialty chemicals company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.18). Koppers had a net margin of 3.55% and a return on equity of 16.71%. The company had revenue of $477.00 million during the quarter, compared to the consensus estimate of $497.00 million. As a group, sell-side analysts predict that Koppers will post 4.24 earnings per share for the current 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 issued a dividend of $0.08 per share. This is a positive change from Koppers's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, March 7th. Koppers's dividend payout ratio is 9.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KOP shares. StockNews.com upgraded shares of Koppers from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Barrington Research restated an "outperform" rating and issued a $64.00 price target on shares of Koppers in a research note 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.