Bessemer Group Inc. continued to hold its position in shares of Stepan Company (NYSE:SCL) during the second quarter, Holdings Channel reports. The fund owned 25,100 shares of the basic materials company’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in Stepan were worth $2,187,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Stepan by 52,898.2% in the first quarter. BlackRock Inc. now owns 2,525,895 shares of the basic materials company’s stock valued at $199,067,000 after buying an additional 2,521,129 shares during the period. Vanguard Group Inc. raised its position in shares of Stepan by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,139,078 shares of the basic materials company’s stock valued at $168,580,000 after buying an additional 126,830 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Stepan by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,054,944 shares of the basic materials company’s stock valued at $83,139,000 after buying an additional 5,559 shares during the period. State Street Corp raised its position in shares of Stepan by 3.8% in the first quarter. State Street Corp now owns 487,206 shares of the basic materials company’s stock valued at $38,400,000 after buying an additional 17,784 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Stepan by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 399,280 shares of the basic materials company’s stock valued at $31,466,000 after buying an additional 21,345 shares during the period. 61.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stepan Company (NYSE SCL) opened at 79.75 on Thursday. Stepan Company has a one year low of $66.20 and a one year high of $92.97. The company has a market cap of $1.80 billion, a P/E ratio of 20.76 and a beta of 1.26. The company’s 50-day moving average price is $86.05 and its 200 day moving average price is $82.09.
Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by $0.02. Stepan had a return on equity of 14.95% and a net margin of 4.85%. The firm had revenue of $495.10 million during the quarter, compared to the consensus estimate of $472.35 million. During the same period in the previous year, the firm earned $1.31 EPS. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Stepan Company will post $4.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, August 29th. Stepan’s payout ratio is currently 21.52%.
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Several equities research analysts have recently commented on SCL shares. Wellington Shields downgraded Stepan from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded Stepan from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub downgraded Stepan from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, National Bank Financial decreased their price objective on Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.00.
Stepan Company Profile
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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