Stepan Co. (SCL) Declares Quarterly Dividend of $0.21
Stepan Co. (NYSE:SCL) declared a quarterly dividend on Tuesday, October 18th. Shareholders of record on Wednesday, November 30th will be given a dividend of 0.205 per share on Thursday, December 15th. This represents a $0.82 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, November 28th. This is a positive change from Stepan’s previous quarterly dividend of $0.19.
Stepan (NYSE:SCL) traded up 7.47% during trading on Tuesday, reaching $75.38. 207,357 shares of the company’s stock traded hands. The firm has a market cap of $1.69 billion, a PE ratio of 18.52 and a beta of 1.17. The firm has a 50 day moving average price of $71.43 and a 200-day moving average price of $63.68. Stepan has a 12 month low of $41.42 and a 12 month high of $77.62.
Stepan (NYSE:SCL) last released its earnings results on Tuesday, October 18th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.15. Stepan had a net margin of 5.29% and a return on equity of 16.78%. The firm earned $445.03 million during the quarter, compared to analyst estimates of $444.65 million. During the same quarter in the previous year, the business earned $0.92 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Stepan will post $4.30 earnings per share for the current fiscal year.
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A number of research firms have commented on SCL. Seaport Global Securities lifted their target price on shares of Stepan from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, August 24th. TD Securities decreased their price target on shares of Stepan from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday, August 12th. National Bank Financial raised shares of Stepan from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $32.00 to $37.00 in a report on Monday, August 15th. Finally, Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, July 8th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.60.
In related news, VP Gregory Servatius sold 1,400 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $62.86, for a total value of $88,004.00. Following the sale, the vice president now directly owns 24,731 shares of the company’s stock, valued at approximately $1,554,590.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Quinn Stepan, Jr. sold 32,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $63.46, for a total transaction of $2,030,720.00. Following the completion of the sale, the chief executive officer now directly owns 157,247 shares in the company, valued at $9,978,894.62. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in Stepan by 131.9% in the second quarter. ProShare Advisors LLC now owns 33,543 shares of the company’s stock valued at $1,997,000 after buying an additional 19,079 shares in the last quarter. Profund Advisors LLC boosted its stake in Stepan by 5.9% in the second quarter. Profund Advisors LLC now owns 5,516 shares of the company’s stock valued at $328,000 after buying an additional 308 shares in the last quarter. Stevens Capital Management LP boosted its stake in Stepan by 28.3% in the second quarter. Stevens Capital Management LP now owns 7,652 shares of the company’s stock valued at $456,000 after buying an additional 1,687 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Stepan by 5.5% in the second quarter. Teachers Advisors Inc. now owns 34,294 shares of the company’s stock valued at $2,042,000 after buying an additional 1,794 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in Stepan by 38.1% in the second quarter. Martingale Asset Management L P now owns 34,085 shares of the company’s stock valued at $2,030,000 after buying an additional 9,399 shares in the last quarter. 59.68% of the stock is currently owned by institutional investors and hedge funds.
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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