Stepan Company (SCL) Chairman F Quinn Stepan, Jr. Sells 15,000 Shares
Stepan Company (NYSE:SCL) Chairman F Quinn Stepan, Jr. sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $79.27, for a total transaction of $1,189,050.00. Following the sale, the chairman now directly owns 151,864 shares in the company, valued at approximately $12,038,259.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Stepan Company (NYSE SCL) traded up 0.76% during mid-day trading on Wednesday, hitting $79.39. 66,734 shares of the company’s stock were exchanged. Stepan Company has a 12 month low of $66.90 and a 12 month high of $92.97. The stock’s 50 day moving average price is $85.18 and its 200-day moving average price is $82.12. The stock has a market cap of $1.79 billion, a PE ratio of 20.67 and a beta of 1.26.
Stepan (NYSE:SCL) last posted its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by $0.02. The company had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $472.35 million. Stepan had a net margin of 4.85% and a return on equity of 14.95%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Equities analysts expect that Stepan Company will post $4.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, August 29th. Stepan’s dividend payout ratio (DPR) is currently 21.52%.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Stepan from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BMO Capital Markets decreased their target price on shares of Stepan from $42.00 to $36.00 in a research note on Monday. BidaskClub cut shares of Stepan from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine raised shares of Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Industrial Alliance Securities raised shares of Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research note on Monday, May 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $52.00.
Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. boosted its stake in Stepan by 455.2% in the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after buying an additional 965 shares during the period. Meadow Creek Investment Management LLC boosted its stake in Stepan 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 period. Ameritas Investment Partners Inc. bought a new stake in Stepan during the first quarter valued at $134,000. Acrospire Investment Management LLC boosted its stake in Stepan by 224.9% in the second quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock valued at $138,000 after buying an additional 1,100 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its stake in Stepan 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 period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
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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