BlackRock Advisors LLC decreased its position in Stepan Co. (NYSE:SCL) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,596 shares of the company’s stock after selling 20,579 shares during the period. BlackRock Advisors LLC owned about 1.06% of Stepan worth $14,085,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Societe Generale bought a new stake in Stepan during the second quarter worth approximately $125,000. SG Americas Securities LLC bought a new stake in Stepan during the second quarter worth approximately $125,000. PineBridge Investments L.P. increased its stake in Stepan by 3.9% in the second quarter. PineBridge Investments L.P. now owns 2,321 shares of the company’s stock worth $138,000 after buying an additional 88 shares during the period. Teacher Retirement System of Texas increased its stake in Stepan by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,791 shares of the company’s stock worth $166,000 after buying an additional 342 shares during the period. Finally, Cypress Wealth Advisors LLC bought a new stake in Stepan during the first quarter worth approximately $202,000. Institutional investors own 59.84% of the company’s stock.
Stepan Co. (NYSE:SCL) opened at 72.82 on Tuesday. The stock has a market capitalization of $1.63 billion, a P/E ratio of 17.89 and a beta of 1.17. The stock has a 50 day moving average of $70.63 and a 200 day moving average of $62.51. Stepan Co. has a 52-week low of $41.42 and a 52-week high of $73.90.
Stepan (NYSE:SCL) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.14. The business had revenue of $454.60 million for the quarter, compared to the consensus estimate of $453.45 million. Stepan had a net margin of 5.29% and a return on equity of 16.78%. Stepan’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. On average, equities research analysts forecast that Stepan Co. will post ($0.38) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Stepan’s dividend payout ratio is 18.67%.
A number of analysts recently commented on SCL shares. 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. TD Securities dropped 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. National Bank Financial upgraded 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. Finally, Zacks Investment Research upgraded 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Stepan has a consensus rating of “Hold” and a consensus price target of $48.60.
In related news, VP Scott C. Mason sold 9,368 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $64.10, for a total transaction of $600,488.80. Following the completion of the sale, the vice president now directly owns 25,270 shares of the company’s stock, valued at approximately $1,619,807. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO F Quinn Stepan, Jr. sold 32,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $63.46, for a total value of $2,030,720.00. Following the sale, the chief executive officer now directly owns 157,247 shares of the company’s stock, valued at $9,978,894.62. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by corporate 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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