Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Stepan (NYSE:SCL – Get Rating) by 55.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,486 shares of the basic materials company’s stock after purchasing an additional 5,539 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Stepan were worth $1,451,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SCL. BNP Paribas Arbitrage SNC raised its holdings in Stepan by 46.6% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 11,353 shares of the basic materials company’s stock worth $1,063,000 after buying an additional 3,608 shares during the period. Algert Global LLC grew its stake in Stepan by 22.4% during the 3rd quarter. Algert Global LLC now owns 45,027 shares of the basic materials company’s stock valued at $4,218,000 after acquiring an additional 8,248 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Stepan by 4.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,904 shares of the basic materials company’s stock valued at $2,052,000 after acquiring an additional 1,031 shares in the last quarter. Trexquant Investment LP purchased a new position in Stepan during the 3rd quarter valued at about $906,000. Finally, Vanguard Group Inc. grew its stake in Stepan by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,527,610 shares of the basic materials company’s stock valued at $236,762,000 after acquiring an additional 27,858 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com cut Stepan from a “buy” rating to a “hold” rating in a research note on Friday, December 30th.
Insiders Place Their Bets
Stepan Stock Up 2.6 %
Shares of SCL stock opened at $97.15 on Wednesday. Stepan has a 12 month low of $91.64 and a 12 month high of $116.72. The firm has a market cap of $2.16 billion, a PE ratio of 15.35 and a beta of 0.83. The stock has a 50 day moving average of $107.08 and a 200-day moving average of $104.73. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 0.39.
Stepan (NYSE:SCL – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The basic materials company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $627.20 million during the quarter, compared to analyst estimates of $628.18 million. Stepan had a return on equity of 13.53% and a net margin of 5.31%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, equities analysts predict that Stepan will post 5.6 EPS for the current year.
Stepan Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.365 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.46 annualized dividend and a yield of 1.50%. Stepan’s dividend payout ratio is currently 22.92%.
Stepan Company Profile
Stepan Co engages in the manufacture and sale of specialty and intermediate chemicals. It operates through the following segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers a range of surfactant chemicals such as anionic, cationic, nonionic, and amphoteric surfactants.
- Get a free copy of the StockNews.com research report on Stepan (SCL)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Want to see what other hedge funds are holding SCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stepan (NYSE:SCL – Get Rating).
Receive News & Ratings for Stepan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stepan and related companies with MarketBeat.com's FREE daily email newsletter.