LSV Asset Management decreased its stake in Stepan Company (NYSE:SCL) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 572,563 shares of the basic materials company’s stock after selling 3,100 shares during the quarter. LSV Asset Management owned approximately 2.54% of Stepan worth $49,893,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Stepan by 52,898.2% in the first quarter. BlackRock Inc. now owns 2,525,895 shares of the basic materials company’s stock worth $199,067,000 after buying an additional 2,521,129 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Stepan by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,139,078 shares of the basic materials company’s stock worth $168,580,000 after buying an additional 126,830 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stepan by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,054,944 shares of the basic materials company’s stock worth $83,139,000 after buying an additional 5,559 shares during the last quarter. State Street Corp boosted its stake in shares of Stepan by 3.8% in the first quarter. State Street Corp now owns 487,206 shares of the basic materials company’s stock worth $38,400,000 after buying an additional 17,784 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Stepan by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 399,280 shares of the basic materials company’s stock worth $31,466,000 after buying an additional 21,345 shares during the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.
SCL has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. BidaskClub upgraded Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. KeyCorp reiterated a “hold” rating on shares of Stepan in a research report on Friday, September 1st. Finally, Wellington Shields downgraded Stepan from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.40.
Stepan Company (NYSE SCL) opened at 79.42 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of 20.68 and a beta of 1.26. The firm’s 50-day moving average price is $80.13 and its 200-day moving average price is $82.04. Stepan Company has a 12 month low of $66.97 and a 12 month high of $92.97.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by $0.02. Stepan had a net margin of 4.85% and a return on equity of 14.95%. The business had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $472.35 million. During the same period in the prior year, the firm posted $1.31 EPS. Stepan’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that Stepan Company will post $4.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, August 29th. Stepan’s dividend payout ratio is presently 21.52%.
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In other Stepan news, VP Frank Pacholec sold 1,000 shares of Stepan stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.33, for a total value of $79,330.00. Following the sale, the vice president now owns 49,514 shares of the company’s stock, valued at approximately $3,927,945.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott R. Behrens sold 667 shares of Stepan stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $77.64, for a total value of $51,785.88. Following the completion of the sale, the vice president now directly owns 3,266 shares in the company, valued at approximately $253,572.24. The disclosure for this sale can be found here. Insiders sold a total of 26,404 shares of company stock worth $2,100,942 in the last ninety days. 13.10% of the stock is owned by corporate insiders.
Stepan Company Profile
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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