Q1 2024 EPS Estimates for Stepan (NYSE:SCL) Increased by Seaport Res Ptn

Stepan (NYSE:SCL) – Investment analysts at Seaport Res Ptn lifted their Q1 2024 earnings per share estimates for Stepan in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.38. The consensus estimate for Stepan’s current full-year earnings is $2.50 per share.

Stepan (NYSE:SCL) last released its earnings results on Tuesday, February 20th. The basic materials company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.04). The company had revenue of $532.13 million for the quarter, compared to analyst estimates of $534.48 million. Stepan had a net margin of 1.73% and a return on equity of 4.20%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS.

Separately, StockNews.com raised Stepan from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th.

Stepan Price Performance

Shares of NYSE:SCL opened at $84.17 on Friday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 48.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 0.96. Stepan has a 12 month low of $63.60 and a 12 month high of $100.61. The stock’s 50 day moving average price is $88.00 and its 200 day moving average price is $85.09.

Stepan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.78%. Stepan’s payout ratio is currently 85.71%.

Insider Activity at Stepan

In other Stepan news, Director F Quinn Stepan, Jr. sold 2,000 shares of Stepan stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.43, for a total value of $174,860.00. Following the transaction, the director now owns 250,676 shares in the company, valued at $21,916,602.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director F Quinn Stepan, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.43, for a total transaction of $174,860.00. Following the completion of the sale, the director now directly owns 250,676 shares of the company’s stock, valued at $21,916,602.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director F Quinn Stepan, Jr. sold 3,637 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.11, for a total value of $327,730.07. Following the completion of the transaction, the director now owns 255,567 shares of the company’s stock, valued at approximately $23,029,142.37. The disclosure for this sale can be found here. Insiders sold a total of 10,637 shares of company stock valued at $957,940 over the last ninety days. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Stepan

A number of large investors have recently made changes to their positions in SCL. O Keefe Stevens Advisory Inc. grew its position in Stepan by 1.8% during the 1st quarter. O Keefe Stevens Advisory Inc. now owns 58,767 shares of the basic materials company’s stock worth $5,291,000 after purchasing an additional 1,024 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Stepan by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,675 shares of the basic materials company’s stock valued at $347,000 after buying an additional 1,121 shares in the last quarter. Vanguard Group Inc. raised its position in Stepan by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,562,730 shares of the basic materials company’s stock valued at $242,306,000 after buying an additional 14,038 shares during the period. Price T Rowe Associates Inc. MD raised its position in Stepan by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,103 shares of the basic materials company’s stock valued at $1,239,000 after buying an additional 937 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in Stepan in the 4th quarter worth about $55,000. Institutional investors and hedge funds own 82.70% of the company’s stock.

About Stepan

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used in consumer and industrial cleaning and disinfection 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, disinfectants, and lubricating ingredients.