Stepan (NYSE:SCL) – Seaport Global Securities cut their Q2 2019 EPS estimates for shares of Stepan in a research report issued on Thursday, May 23rd. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings per share of $1.26 for the quarter, down from their previous estimate of $1.45. Seaport Global Securities also issued estimates for Stepan’s Q3 2019 earnings at $1.24 EPS, FY2019 earnings at $4.97 EPS, Q1 2020 earnings at $1.50 EPS, Q2 2020 earnings at $1.59 EPS, Q3 2020 earnings at $1.45 EPS and Q4 2020 earnings at $1.32 EPS.
A number of other brokerages also recently commented on SCL. Zacks Investment Research upgraded Stepan from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $79.50.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.04. Stepan had a return on equity of 14.24% and a net margin of 5.40%. The company had revenue of $489.17 million during the quarter, compared to the consensus estimate of $510.57 million. During the same quarter last year, the company earned $1.44 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of SCL. Norges Bank bought a new position in shares of Stepan during the 4th quarter worth approximately $35,800,000. BlackRock Inc. lifted its position in shares of Stepan by 2.8% during the 4th quarter. BlackRock Inc. now owns 2,976,582 shares of the basic materials company’s stock worth $220,267,000 after buying an additional 81,517 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Stepan during the 4th quarter worth approximately $5,741,000. Roubaix Capital LLC bought a new position in shares of Stepan during the 1st quarter worth approximately $4,468,000. Finally, Morgan Stanley lifted its position in shares of Stepan by 85.7% during the 3rd quarter. Morgan Stanley now owns 90,631 shares of the basic materials company’s stock worth $7,886,000 after buying an additional 41,817 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.
In related news, Chairman F Quinn Stepan, Jr. sold 12,889 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $93.83, for a total transaction of $1,209,374.87. Following the completion of the transaction, the chairman now owns 202,576 shares in the company, valued at approximately $19,007,706.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Arthur W. Mergner sold 1,038 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.01, for a total value of $93,430.38. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,500 shares of company stock valued at $133,021 and have sold 20,128 shares valued at $1,865,444. 11.40% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Stepan’s dividend payout ratio (DPR) is presently 20.49%.
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 in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
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