Acadian Asset Management LLC boosted its holdings in Stepan (NYSE:SCL) by 585.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,741 shares of the basic materials company’s stock after acquiring an additional 28,815 shares during the period. Acadian Asset Management LLC owned 0.15% of Stepan worth $2,937,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Stepan by 6.7% during the 2nd quarter. BlackRock Inc. now owns 2,810,899 shares of the basic materials company’s stock worth $219,279,000 after purchasing an additional 176,940 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stepan by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,086,248 shares of the basic materials company’s stock worth $84,738,000 after purchasing an additional 29,481 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Stepan by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 415,094 shares of the basic materials company’s stock worth $32,383,000 after purchasing an additional 8,178 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Stepan by 10.0% during the 2nd quarter. Northern Trust Corp now owns 307,891 shares of the basic materials company’s stock worth $24,019,000 after purchasing an additional 28,066 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Stepan by 0.4% during the 1st quarter. Allianz Asset Management GmbH now owns 299,940 shares of the basic materials company’s stock worth $24,949,000 after purchasing an additional 1,293 shares during the last quarter. 67.69% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Frank Pacholec sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $89.49, for a total value of $44,745.00. Following the transaction, the vice president now owns 36,482 shares in the company, valued at $3,264,774.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Wehmer sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $84.91, for a total transaction of $118,874.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,213 shares of company stock worth $535,973. Insiders own 12.60% of the company’s stock.
Shares of SCL stock opened at $84.66 on Friday. The stock has a market cap of $1.89 billion, a PE ratio of 18.21 and a beta of 1.17. Stepan has a 1-year low of $68.09 and a 1-year high of $90.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 2.49.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $504.20 million. Stepan had a net margin of 4.78% and a return on equity of 15.02%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Analysts forecast that Stepan will post 4.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.25 per share. This is a positive change from Stepan’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, November 29th. Stepan’s dividend payout ratio is presently 19.35%.
Several research firms have issued reports on SCL. Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research note on Wednesday, September 26th. TD Securities reaffirmed a “neutral” rating and set a $27.00 price target on shares of Stepan in a research note on Wednesday. Seaport Global Securities reaffirmed a “hold” rating and set a $95.00 price target on shares of Stepan in a research note on Monday, November 5th. Finally, ValuEngine raised shares of Stepan from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Stepan presently has a consensus rating of “Hold” and a consensus price target of $57.80.
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Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, and lubricating ingredients.
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