Prudential Financial Inc. boosted its stake in shares of Stepan Co. (NYSE:SCL) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,674 shares of the company’s stock after buying an additional 2,670 shares during the period. Prudential Financial Inc. owned approximately 1.20% of Stepan worth $15,994,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in SCL. Societe Generale bought a new stake in shares of Stepan during the second quarter worth about $125,000. SG Americas Securities LLC bought a new stake in shares of Stepan during the second quarter worth about $125,000. Teacher Retirement System of Texas increased its stake in shares of Stepan by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,791 shares of the company’s stock worth $166,000 after buying an additional 342 shares during the last quarter. Cypress Wealth Advisors LLC bought a new stake in shares of Stepan during the first quarter worth about $202,000. Finally, Royal Bank of Canada increased its stake in shares of Stepan by 4.2% in the first quarter. Royal Bank of Canada now owns 4,899 shares of the company’s stock worth $271,000 after buying an additional 199 shares during the last quarter. 59.84% of the stock is currently owned by institutional investors.
Stepan Co. (NYSE:SCL) remained flat at $72.36 during trading on Friday. The company had a trading volume of 12,534 shares. The firm has a market cap of $1.62 billion, a PE ratio of 17.77 and a beta of 1.22. The company has a 50-day moving average of $70.29 and a 200 day moving average of $62.11. Stepan Co. has a one year low of $40.72 and a one year high of $73.90.
Stepan (NYSE:SCL) last issued its earnings results on Wednesday, July 20th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.14. The firm had revenue of $454.60 million for the quarter, compared to analyst estimates of $453.45 million. Stepan had a return on equity of 16.78% and a net margin of 5.29%. Stepan’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, analysts predict that Stepan Co. will post ($0.38) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. Stepan’s dividend payout ratio is currently 18.67%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Stepan from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Seaport Global Securities raised their price target on shares of Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. National Bank Financial raised shares of Stepan from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $32.00 to $37.00 in a report on Monday, August 15th. Finally, TD Securities dropped their price target on shares of Stepan from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Stepan currently has a consensus rating of “Hold” and an average target price of $48.60.
In other Stepan news, VP Frank Pacholec sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $72.00, for a total value of $108,000.00. Following the sale, the vice president now owns 51,489 shares in the company, valued at approximately $3,707,208. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gregory Servatius sold 1,466 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $61.86, for a total value of $90,686.76. Following the completion of the sale, the vice president now owns 24,731 shares in the company, valued at approximately $1,529,859.66. The disclosure for this sale can be found here. 14.40% 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 variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.
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