Dynamic Technology Lab Private Ltd purchased a new stake in shares of Stepan Co. (NYSE:SCL) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,693 shares of the company’s stock, valued at approximately $280,000.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Stepan by 5.5% in the second quarter. Vanguard Group Inc. now owns 1,880,554 shares of the company’s stock valued at $111,951,000 after buying an additional 98,079 shares during the period. BlackRock Fund Advisors increased its position in Stepan by 0.6% in the first quarter. BlackRock Fund Advisors now owns 1,170,488 shares of the company’s stock valued at $64,716,000 after buying an additional 6,952 shares during the period. Dimensional Fund Advisors LP increased its position in Stepan by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,030,940 shares of the company’s stock valued at $61,371,000 after buying an additional 65,529 shares during the period. LSV Asset Management increased its position in Stepan by 2.7% in the second quarter. LSV Asset Management now owns 604,500 shares of the company’s stock valued at $35,985,000 after buying an additional 16,065 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Stepan by 19.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 578,114 shares of the company’s stock valued at $31,964,000 after buying an additional 93,432 shares during the period. 59.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Stepan Co. (NYSE:SCL) opened at 72.66 on Friday. Stepan Co. has a 12 month low of $41.42 and a 12 month high of $73.90. The company has a market cap of $1.62 billion, a PE ratio of 17.85 and a beta of 1.22. The company has a 50-day moving average of $70.45 and a 200 day moving average of $62.25.
Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.14. Stepan had a return on equity of 16.78% and a net margin of 5.29%. The company earned $454.60 million during the quarter, compared to analysts’ expectations of $453.45 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts anticipate that Stepan Co. will post ($0.38) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, August 29th. Stepan’s dividend payout ratio is currently 18.67%.
SCL has been the topic of several research analyst reports. TD Securities lowered their target price on shares of Stepan from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, July 8th. Seaport Global Securities boosted their target price on shares of Stepan from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, August 24th. Finally, National Bank Financial raised shares of Stepan from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $32.00 to $37.00 in a report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.60.
In other news, VP Frank Pacholec sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the vice president now owns 56,489 shares of the company’s stock, valued at $3,671,785. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory Servatius sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $62.80, for a total value of $62,800.00. Following the completion of the transaction, the vice president now directly owns 24,731 shares in the company, valued at approximately $1,553,106.80. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.
Stepan Company Profile
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.
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