Stepan (NYSE:SCL – Get Rating) – Seaport Res Ptn decreased their Q4 2022 earnings per share (EPS) estimates for Stepan in a report released on Wednesday, January 18th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $0.53 per share for the quarter, down from their previous forecast of $0.96. The consensus estimate for Stepan’s current full-year earnings is $6.84 per share. Seaport Res Ptn also issued estimates for Stepan’s Q1 2023 earnings at $1.68 EPS and FY2023 earnings at $6.89 EPS.
Separately, StockNews.com lowered Stepan from a “buy” rating to a “hold” rating in a research note on Friday, December 30th.
Stepan Price Performance
Stepan (NYSE:SCL – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The basic materials company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $719.20 million during the quarter, compared to analysts’ expectations of $664.48 million. Stepan had a return on equity of 14.62% and a net margin of 5.56%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share.
Insiders Place Their Bets
In other news, VP Arthur W. Mergner sold 2,156 shares of Stepan stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $103.01, for a total value of $222,089.56. Following the completion of the transaction, the vice president now directly owns 23,513 shares of the company’s stock, valued at approximately $2,422,074.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director F Quinn Stepan, Jr. sold 5,308 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $110.00, for a total value of $583,880.00. Following the transaction, the director now owns 64,869 shares in the company, valued at approximately $7,135,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Arthur W. Mergner sold 2,156 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $103.01, for a total value of $222,089.56. Following the completion of the transaction, the vice president now owns 23,513 shares in the company, valued at approximately $2,422,074.13. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On Stepan
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Stepan by 12.8% in the second quarter. State Street Corp now owns 1,951,932 shares of the basic materials company’s stock worth $197,828,000 after purchasing an additional 221,795 shares during the period. BlackRock Inc. raised its stake in Stepan by 3.1% in the first quarter. BlackRock Inc. now owns 3,733,939 shares of the basic materials company’s stock worth $368,951,000 after buying an additional 112,113 shares in the last quarter. Renaissance Technologies LLC raised its stake in Stepan by 1,177.1% in the first quarter. Renaissance Technologies LLC now owns 44,700 shares of the basic materials company’s stock worth $4,417,000 after buying an additional 41,200 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Stepan in the fourth quarter worth about $3,346,000. Finally, Romano Brothers AND Company bought a new position in Stepan in the third quarter worth about $2,675,000. Institutional investors own 76.84% of the company’s stock.
Stepan Company Profile
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.
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