Stepan Company (SCL) Chairman Sells $458,192.15 in Stock
Stepan Company (NYSE:SCL) Chairman F Quinn Stepan, Jr. sold 5,381 shares of Stepan Company stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $85.15, for a total value of $458,192.15. Following the transaction, the chairman now owns 141,952 shares in the company, valued at $12,087,212.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Stepan Company (NYSE:SCL) traded down 1.37% during midday trading on Thursday, hitting $84.17. The stock had a trading volume of 49,722 shares. The company has a market cap of $1.89 billion, a P/E ratio of 21.66 and a beta of 1.17. The stock’s 50-day moving average is $80.56 and its 200-day moving average is $78.87. Stepan Company has a one year low of $55.78 and a one year high of $89.90.
Stepan Company (NYSE:SCL) last issued its earnings results on Tuesday, April 25th. The basic materials company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.19 by $0.17. The company had revenue of $468.30 million during the quarter, compared to analysts’ expectations of $461.70 million. Stepan Company had a net margin of 5.03% and a return on equity of 16.74%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. Equities analysts predict that Stepan Company will post $4.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 30th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 25th. Stepan Company’s payout ratio is 21.19%.
Several brokerages have recently issued reports on SCL. Zacks Investment Research upgraded Stepan Company from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Wellington Shields raised Stepan Company from a “hold” rating to an “accumulate” rating in a research note on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.40.
Several hedge funds have recently modified their holdings of the stock. Meadow Creek Investment Management LLC boosted its stake in shares of Stepan Company by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock valued at $124,000 after buying an additional 28 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Stepan Company during the first quarter valued at approximately $134,000. Glen Harbor Capital Management LLC boosted its stake in shares of Stepan Company by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,904 shares of the basic materials company’s stock valued at $150,000 after buying an additional 34 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Stepan Company by 28.8% in the first quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock valued at $151,000 after buying an additional 429 shares during the last quarter. Finally, Crow Point Partners LLC acquired a new stake in shares of Stepan Company during the third quarter valued at approximately $142,000. Institutional investors own 61.61% of the company’s stock.
Stepan Company 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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