Vanguard Group Inc. grew its position in shares of Stepan Company (NYSE:SCL) by 0.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,151,859 shares of the basic materials company’s stock after acquiring an additional 12,781 shares during the quarter. Vanguard Group Inc. owned about 9.55% of Stepan worth $187,513,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in shares of Stepan during the 1st quarter valued at approximately $134,000. Acrospire Investment Management LLC lifted its position in Stepan by 224.9% in the second quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock worth $138,000 after buying an additional 1,100 shares during the last quarter. Victory Capital Management Inc. lifted its position in Stepan by 28.8% in the first quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock worth $151,000 after buying an additional 429 shares during the last quarter. Amalgamated Bank lifted its position in Stepan by 3.9% in the second quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock worth $240,000 after buying an additional 104 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Stepan by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 3,858 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,708 shares during the last quarter. Hedge funds and other institutional investors own 62.17% of the company’s stock.
In other Stepan news, VP Scott R. Behrens sold 667 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $77.64, for a total transaction of $51,785.88. Following the completion of the sale, the vice president now directly owns 3,266 shares of the company’s stock, valued at approximately $253,572.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F Quinn Stepan sold 8,865 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.50, for a total value of $713,632.50. Following the sale, the director now directly owns 287,962 shares of the company’s stock, valued at $23,180,941. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,404 shares of company stock valued at $2,343,492. Insiders own 13.10% of the company’s stock.
Stepan Company (NYSE:SCL) opened at 80.26 on Friday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 20.90 and a beta of 1.28. Stepan Company has a 1-year low of $67.85 and a 1-year high of $92.97. The firm has a 50-day moving average price of $84.05 and a 200 day moving average price of $83.82.
Stepan (NYSE:SCL) last released its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). Stepan had a net margin of 4.81% and a return on equity of 13.98%. The business had revenue of $487.81 million during the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter in the previous year, the company posted $1.06 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Stepan Company will post $4.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from Stepan’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.12%. Stepan’s dividend payout ratio is 21.24%.
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SCL has been the subject of a number of analyst reports. Wellington Shields downgraded Stepan from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Stepan from a “sell” rating to a “hold” rating in a research report on Saturday, September 16th. National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $27.00 to $35.00 in a research note on Wednesday, October 11th. KeyCorp reiterated a “hold” rating on shares of Stepan in a research note on Friday, September 1st. Finally, BMO Capital Markets reduced their target price on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.25.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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