Shell Asset Management Co. lowered its stake in Stepan (NYSE:SCL – Get Rating) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,917 shares of the basic materials company’s stock after selling 874 shares during the period. Shell Asset Management Co.’s holdings in Stepan were worth $585,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Profund Advisors LLC increased its holdings in shares of Stepan by 9.8% in the fourth quarter. Profund Advisors LLC now owns 2,387 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 213 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Stepan in the fourth quarter valued at approximately $16,746,000. Dean Investment Associates LLC increased its holdings in shares of Stepan by 3.8% in the fourth quarter. Dean Investment Associates LLC now owns 8,750 shares of the basic materials company’s stock valued at $1,088,000 after purchasing an additional 323 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Stepan by 97.1% in the fourth quarter. Allianz Asset Management GmbH now owns 8,226 shares of the basic materials company’s stock valued at $1,023,000 after purchasing an additional 4,053 shares in the last quarter. Finally, Aurora Investment Counsel increased its holdings in shares of Stepan by 4.3% in the fourth quarter. Aurora Investment Counsel now owns 7,769 shares of the basic materials company’s stock valued at $966,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 76.75% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Stepan from a “buy” rating to a “hold” rating in a report on Friday, May 20th. Stifel Nicolaus lowered their target price on shares of Stepan from $147.00 to $133.00 in a report on Friday, July 29th. Finally, TheStreet raised shares of Stepan from a “c+” rating to a “b” rating in a report on Monday, June 6th.
Stepan Price Performance
SCL opened at $109.06 on Wednesday. The company has a fifty day moving average price of $104.16 and a two-hundred day moving average price of $104.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.27 and a current ratio of 1.70. Stepan has a 52 week low of $95.03 and a 52 week high of $129.35. The firm has a market capitalization of $2.44 billion, a PE ratio of 16.75 and a beta of 0.75.
Stepan (NYSE:SCL – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.40. Stepan had a net margin of 5.71% and a return on equity of 13.95%. The company had revenue of $751.60 million during the quarter, compared to analyst estimates of $692.40 million. During the same quarter in the previous year, the business earned $1.81 EPS. The firm’s revenue was up 26.2% on a year-over-year basis. As a group, analysts anticipate that Stepan will post 6.86 earnings per share for the current year.
Stepan Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, August 30th. Stepan’s dividend payout ratio (DPR) is 20.58%.
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, disinfectants, and lubricating ingredients.
- Get a free copy of the StockNews.com research report on Stepan (SCL)
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