Koppers Holdings Shares Gap Up After Insider Buying Activity (KOP)
Koppers Holdings (NYSE:KOP) shares gapped up prior to trading on Monday after an insider bought additional shares in the company, Stock Ratings Network reports. The stock had previously closed at $35.97, but opened at $36.20. Koppers Holdings shares last traded at $36.81, with a volume of 49,998 shares.
Specifically, CFO Michael Zugay purchased 10,000 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $35.42 per share, with a total value of $354,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on KOP shares. Analysts at Oppenheimer reiterated an “outperform” rating on shares of Koppers Holdings in a research note on Friday, August 8th. They now have a $45.00 price target on the stock, down previously from $50.00. Analysts at Zacks upgraded shares of Koppers Holdings from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 6th. They now have a $37.40 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.35.
The stock has a 50-day moving average of $36.39 and a 200-day moving average of $38.60. The company has a market cap of $752.4 million and a price-to-earnings ratio of 39.82.
Koppers Holdings (NYSE:KOP) last released its earnings data on Thursday, August 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.22. The company had revenue of $356.80 million for the quarter, compared to the consensus estimate of $391.30 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts expect that Koppers Holdings will post $2.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 6th. Investors of record on Monday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, August 14th.
Koppers Holdings Inc (NYSE:KOP) is a global provider of carbon compounds and commercial wood treatment products and services.
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