Hsbc Holdings PLC Sells 696 Shares of Stepan (NYSE:SCL)

Hsbc Holdings PLC lessened its stake in shares of Stepan (NYSE:SCL) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,533 shares of the basic materials company’s stock after selling 696 shares during the quarter. Hsbc Holdings PLC’s holdings in Stepan were worth $358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Stepan by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,560,605 shares of the basic materials company’s stock worth $165,671,000 after purchasing an additional 25,841 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Stepan by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,310,760 shares of the basic materials company’s stock valued at $84,806,000 after purchasing an additional 18,392 shares during the last quarter. First Trust Advisors LP boosted its stake in Stepan by 2.7% in the 4th quarter. First Trust Advisors LP now owns 660,048 shares of the basic materials company’s stock worth $42,705,000 after purchasing an additional 17,283 shares in the last quarter. American Century Companies Inc. increased its stake in Stepan by 13.9% during the 4th quarter. American Century Companies Inc. now owns 451,123 shares of the basic materials company’s stock valued at $29,188,000 after purchasing an additional 54,943 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Stepan by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 403,399 shares of the basic materials company’s stock worth $26,100,000 after buying an additional 29,179 shares during the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Stepan Stock Up 1.8 %

Shares of SCL stock opened at $54.47 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.21. Stepan has a fifty-two week low of $44.23 and a fifty-two week high of $94.77. The firm has a market capitalization of $1.23 billion, a PE ratio of 24.65 and a beta of 1.00. The stock’s 50-day simple moving average is $52.98 and its 200-day simple moving average is $63.15.

Stepan (NYSE:SCL) last posted its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.33. The company had revenue of $593.26 million during the quarter, compared to analyst estimates of $562.77 million. Stepan had a net margin of 2.31% and a return on equity of 4.21%. Stepan’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. Equities analysts expect that Stepan will post 3.55 earnings per share for the current year.

Stepan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.385 per share. The ex-dividend date is Friday, May 30th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.83%. Stepan’s payout ratio is currently 62.60%.

Insider Activity

In related news, Director Susan Lewis purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of $63.53 per share, with a total value of $31,765.00. Following the acquisition, the director now owns 1,896 shares in the company, valued at $120,452.88. The trade was a 35.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Stepan from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st.

Stepan Company Profile

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.