Stepan (SCL) Position Boosted by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its holdings in Stepan (NYSE:SCL) by 10.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 48,658 shares of the basic materials company’s stock after purchasing an additional 4,665 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Stepan were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SCL. Itau Unibanco Holding S.A. purchased a new position in shares of Stepan in the 2nd quarter valued at about $154,000. First Mercantile Trust Co. purchased a new position in shares of Stepan in the 2nd quarter valued at about $175,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Stepan during the 2nd quarter worth approximately $202,000. WINTON GROUP Ltd purchased a new stake in Stepan during the 1st quarter worth approximately $265,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Stepan during the 2nd quarter worth approximately $329,000. Hedge funds and other institutional investors own 67.59% of the company’s stock.

Several research firms have commented on SCL. ValuEngine upgraded Stepan from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Zacks Investment Research lowered Stepan from a “hold” rating to a “sell” rating in a research note on Friday, October 19th.

In other Stepan news, Director Edward J. Wehmer sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $84.91, for a total transaction of $118,874.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank Pacholec sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $88.55, for a total value of $177,100.00. Following the sale, the vice president now owns 38,306 shares of the company’s stock, valued at $3,391,996.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,624 shares of company stock valued at $404,122. 12.60% of the stock is owned by company insiders.

NYSE:SCL opened at $84.48 on Monday. Stepan has a 12 month low of $68.09 and a 12 month high of $90.96. The company has a quick ratio of 1.94, a current ratio of 2.49 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 17.17 and a beta of 1.17.

Stepan (NYSE:SCL) last posted its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.11. Stepan had a return on equity of 15.02% and a net margin of 4.78%. The company had revenue of $508.00 million during the quarter, compared to analyst estimates of $504.20 million. During the same period in the previous year, the business earned $0.92 EPS. Stepan’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that Stepan will post 4.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.25 per share. This is a positive change from Stepan’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 29th. Stepan’s payout ratio is 19.35%.

Stepan Profile

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, and lubricating ingredients.

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Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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