Stepan Company (SCL) Rating Increased to Hold at Zacks Investment Research
Stepan Company (NYSE:SCL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Stepan Company produces specialty and intermediate chemicals which are sold to other manufacturers and then made into a variety of end products. They have three reportable segments: surfactants, polymers and specialty products. “
Other research analysts have also issued research reports about the stock. BMO Capital Markets decreased their price target on shares of Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. BidaskClub upgraded shares of Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. ValuEngine upgraded shares of Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. KeyCorp reiterated a “hold” rating on shares of Stepan in a research note on Friday, September 1st. Finally, Wellington Shields lowered shares of Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Stepan has an average rating of “Hold” and an average price target of $48.40.
Shares of Stepan (SCL) opened at 80.79 on Friday. Stepan has a 52-week low of $67.85 and a 52-week high of $92.97. The company’s 50-day moving average price is $78.89 and its 200-day moving average price is $82.28. The firm has a market capitalization of $1.82 billion, a P/E ratio of 21.03 and a beta of 1.26.
Stepan (NYSE:SCL) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $1.32 EPS for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.02). Stepan had a net margin of 4.85% and a return on equity of 14.95%. The company had revenue of $495.10 million during the quarter, compared to analyst estimates of $472.35 million. During the same quarter last year, the company posted $1.31 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Stepan will post $4.58 EPS for the current fiscal year.
In other Stepan news, Director Michael Ross Boyce sold 872 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $77.00, for a total transaction of $67,144.00. Following the transaction, the director now owns 12,026 shares in the company, valued at approximately $926,002. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott R. Behrens sold 667 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $77.64, for a total transaction of $51,785.88. Following the transaction, the vice president now owns 3,266 shares in the company, valued at approximately $253,572.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,904 shares of company stock worth $2,221,092. Company insiders own 13.10% of the company’s stock.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. grew its position in shares of Stepan by 455.2% during the 2nd quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 965 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Stepan by 1.8% during the 1st quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock worth $124,000 after acquiring an additional 28 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of Stepan by 224.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock worth $138,000 after acquiring an additional 1,100 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Stepan during the 1st quarter worth approximately $134,000. Finally, Victory Capital Management Inc. boosted its position in shares of Stepan by 28.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.
Stepan 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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