Nationwide Fund Advisors boosted its position in shares of Stepan Co. (NYSE:SCL) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 49,946 shares of the company’s stock after buying an additional 1,051 shares during the period. Nationwide Fund Advisors owned approximately 0.22% of Stepan worth $2,973,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. 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. 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. 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. Renaissance Technologies LLC increased its position in Stepan by 34.0% in the first quarter. Renaissance Technologies LLC now owns 248,900 shares of the company’s stock valued at $13,762,000 after buying an additional 63,100 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Stepan by 4.2% in the first quarter. Panagora Asset Management Inc. now owns 168,942 shares of the company’s stock valued at $9,341,000 after buying an additional 6,832 shares during the period. 59.84% of the stock is currently owned by institutional investors.
Stepan Co. (NYSE:SCL) traded down 1.58% during trading on Friday, reaching $72.38. 65,283 shares of the company’s stock traded hands. The stock has a market capitalization of $1.62 billion, a P/E ratio of 17.78 and a beta of 1.17. Stepan Co. has a 1-year low of $41.42 and a 1-year high of $73.90. The stock has a 50-day moving average price of $71.20 and a 200 day moving average price of $62.91.
Stepan (NYSE:SCL) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.14. The company 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 was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. Equities research analysts expect that Stepan Co. will post ($0.38) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, August 29th. Stepan’s dividend payout ratio is currently 18.67%.
SCL has been the subject of a number of analyst reports. 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 research note on Monday, August 15th. Zacks Investment Research upgraded shares of Stepan from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Friday, July 8th. TD Securities lowered their target price on shares of Stepan from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Finally, 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 research note on Wednesday, August 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Stepan has an average rating of “Hold” and an average price target of $48.60.
In other news, VP Gregory Servatius sold 3,534 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $62.34, for a total value of $220,309.56. Following the transaction, the vice president now owns 24,731 shares of the company’s stock, valued at approximately $1,541,730.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Frank Pacholec sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $72.00, for a total transaction of $108,000.00. Following the completion of the transaction, the vice president now directly owns 51,489 shares in the company, valued at approximately $3,707,208. The disclosure for this sale can be found here. Company insiders own 14.40% of the company’s stock.
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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