Ameriprise Financial Inc. cut its stake in Stepan (NYSE:SCL) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,173 shares of the basic materials company’s stock after selling 2,824 shares during the period. Ameriprise Financial Inc. owned about 0.60% of Stepan worth $11,309,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in Stepan by 455.2% in the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 965 shares during the period. Acrospire Investment Management LLC boosted its holdings 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 valued at $138,000 after purchasing an additional 1,100 shares during the period. Victory Capital Management Inc. boosted its holdings in Stepan by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,254 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 337 shares during the period. Amalgamated Bank boosted its holdings in Stepan by 3.9% in the second quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 104 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in Stepan by 4.7% in the second quarter. Suntrust Banks Inc. now owns 3,275 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 63.19% of the company’s stock.
A number of analysts have issued reports on SCL shares. National Bank Financial raised Stepan from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $35.00 in a report on Wednesday, October 11th. Zacks Investment Research downgraded Stepan from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Scotiabank raised Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 price target for the company in a report on Tuesday, November 14th. Finally, TD Securities reaffirmed a “buy” rating and set a $33.00 price target on shares of Stepan in a report on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $35.60.
In related news, VP Debra Stefaniak sold 818 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $82.66, for a total value of $67,615.88. Following the transaction, the vice president now owns 6,616 shares in the company, valued at approximately $546,878.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arthur W. Mergner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $81.16, for a total value of $81,160.00. Following the completion of the transaction, the vice president now owns 2,960 shares in the company, valued at approximately $240,233.60. The disclosure for this sale can be found here. Insiders have sold 2,650 shares of company stock worth $215,793 in the last quarter. Insiders own 13.10% of the company’s stock.
Stepan (NYSE:SCL) traded up $2.09 on Thursday, hitting $79.75. The stock had a trading volume of 70,287 shares, compared to its average volume of 65,687. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.64 and a quick ratio of 2.08. Stepan has a twelve month low of $68.51 and a twelve month high of $92.97. The firm has a market capitalization of $1,750.00, a PE ratio of 20.29 and a beta of 1.30.
Stepan (NYSE:SCL) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.17). Stepan had a return on equity of 13.98% and a net margin of 4.81%. The firm had revenue of $487.81 million for the quarter, compared to analyst estimates of $469.75 million. During the same quarter last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. equities research analysts forecast that Stepan will post 4.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Stepan’s previous quarterly dividend of $0.21. Stepan’s payout ratio is 22.90%.
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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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