Strs Ohio trimmed its position in shares of Stepan (NYSE:SCL) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,200 shares of the basic materials company’s stock after selling 200 shares during the period. Strs Ohio’s holdings in Stepan were worth $1,029,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Stepan by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,097,483 shares of the basic materials company’s stock valued at $81,214,000 after purchasing an additional 3,653 shares during the last quarter. Norges Bank acquired a new position in Stepan during the 4th quarter worth $35,800,000. Geode Capital Management LLC lifted its position in Stepan by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 274,456 shares of the basic materials company’s stock worth $20,309,000 after acquiring an additional 15,923 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Stepan by 15.4% during the 1st quarter. Eagle Asset Management Inc. now owns 159,837 shares of the basic materials company’s stock worth $13,988,000 after acquiring an additional 21,325 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Stepan by 25.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 106,302 shares of the basic materials company’s stock worth $9,304,000 after acquiring an additional 21,540 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.
SCL has been the subject of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of Stepan in a research report on Wednesday, July 3rd. They set a “sector perform” rating and a $21.00 target price for the company. ValuEngine lowered shares of Stepan from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Scotiabank lowered shares of Stepan to a “sector underperform” rating and set a $20.00 target price for the company. in a research report on Tuesday. Zacks Investment Research raised shares of Stepan from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets cut their target price on shares of Stepan from $28.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $54.14.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.19. The business had revenue of $473.00 million during the quarter, compared to analyst estimates of $519.20 million. Stepan had a net margin of 5.39% and a return on equity of 14.19%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 earnings per share. Analysts forecast that Stepan will post 5.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 29th. Stepan’s dividend payout ratio is currently 20.49%.
In other news, VP Sean Thomas Moriarty sold 1,092 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $95.11, for a total transaction of $103,860.12. Following the completion of the transaction, the vice president now owns 5,075 shares of the company’s stock, valued at $482,683.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luis Rojo acquired 300 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $86.64 per share, with a total value of $25,992.00. Following the transaction, the chief financial officer now directly owns 1,900 shares of the company’s stock, valued at approximately $164,616. The disclosure for this purchase can be found here. Insiders have sold 16,735 shares of company stock valued at $1,623,252 in the last ninety days. 11.40% of the stock is owned by company insiders.
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
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