Dimensional Fund Advisors LP Boosts Position in Stepan (NYSE:SCL)

Posted by MarketBeat News on May 21st, 2023

Dimensional Fund Advisors LP grew its stake in Stepan (NYSE:SCL – Get Rating) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,029 shares of the basic materials company’s stock after acquiring an additional 25,797 shares during the period. Dimensional Fund Advisors LP’s holdings in Stepan were worth $112,852,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can increased its stake in shares of Stepan by 0.5% during the first quarter. Great West Life Assurance Co. Can now owns 18,485 shares of the basic materials company’s stock valued at $1,875,000 after buying an additional 98 shares during the period. US Bancorp DE raised its stake in Stepan by 3.3% in the third quarter. US Bancorp DE now owns 3,110 shares of the basic materials company’s stock worth $291,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Stepan by 1.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 7,028 shares of the basic materials company’s stock worth $658,000 after buying an additional 128 shares during the period. Royal Bank of Canada increased its holdings in shares of Stepan by 3.1% in the 3rd quarter. Royal Bank of Canada now owns 4,534 shares of the basic materials company’s stock valued at $425,000 after acquiring an additional 137 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Stepan by 2.2% in the third quarter. Victory Capital Management Inc. now owns 8,190 shares of the basic materials company’s stock valued at $767,000 after purchasing an additional 178 shares during the last quarter. 76.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SCL shares. StockNews.com initiated coverage on shares of Stepan in a report on Thursday. They issued a “sell” rating on the stock. TheStreet lowered Stepan from a “b-” rating to a “c” rating in a research note on Wednesday.

Insider Buying and Selling at Stepan

Want More Great Investing Ideas?

In other Stepan news, Director F Quinn Stepan, Jr. sold 4,132 shares of Stepan stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $105.12, for a total value of $434,355.84. Following the sale, the director now owns 228,165 shares in the company, valued at $23,984,704.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director F Quinn Stepan, Jr. sold 4,132 shares of Stepan stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $105.12, for a total value of $434,355.84. Following the completion of the sale, the director now owns 228,165 shares in the company, valued at approximately $23,984,704.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Finn Stepan sold 479 shares of Stepan stock in a transaction on Monday, March 6th. The shares were sold at an average price of $105.06, for a total value of $50,323.74. Following the completion of the sale, the vice president now directly owns 188,326 shares of the company’s stock, valued at $19,785,529.56. The disclosure for this sale can be found here. Insiders sold a total of 6,766 shares of company stock worth $680,784 in the last three months. 6.90% of the stock is owned by corporate insiders.

Stepan Stock Performance

Shares of SCL stock opened at $91.21 on Friday. The company has a market capitalization of $2.04 billion, a P/E ratio of 17.75 and a beta of 0.83. The business’s 50 day moving average is $95.99 and its two-hundred day moving average is $103.74. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38. Stepan has a 12-month low of $87.11 and a 12-month high of $116.72.

Stepan (NYSE:SCL – Get Rating) last released its earnings results on Tuesday, April 25th. The basic materials company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.23). The firm had revenue of $651.40 million during the quarter, compared to analysts’ expectations of $649.73 million. Stepan had a net margin of 4.31% and a return on equity of 11.20%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.76 EPS. Analysts expect that Stepan will post 4.58 EPS for the current fiscal year.

Stepan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, May 30th. Stepan’s dividend payout ratio is currently 28.40%.

About Stepan

(Get Rating)

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.