Dimensional Fund Advisors LP Boosts Holdings in Stepan (SCL)
Dimensional Fund Advisors LP lifted its position in shares of Stepan (NYSE:SCL) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086,248 shares of the basic materials company’s stock after purchasing an additional 29,481 shares during the period. Dimensional Fund Advisors LP owned about 4.82% of Stepan worth $84,738,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Stepan by 3.2% during the 2nd quarter. Bessemer Group Inc. now owns 19,400 shares of the basic materials company’s stock worth $1,513,000 after purchasing an additional 600 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Stepan by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 4,487 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 617 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Stepan by 7.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 10,133 shares of the basic materials company’s stock worth $790,000 after purchasing an additional 700 shares during the last quarter. Pinebridge Investments L.P. lifted its position in shares of Stepan by 2.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 30,776 shares of the basic materials company’s stock worth $2,401,000 after purchasing an additional 757 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Stepan by 1.7% in the first quarter. Rhumbline Advisers now owns 52,559 shares of the basic materials company’s stock valued at $4,372,000 after acquiring an additional 878 shares during the last quarter. 68.08% of the stock is owned by institutional investors and hedge funds.
In other news, VP Frank Pacholec sold 699 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $87.59, for a total value of $61,225.41. Following the completion of the sale, the vice president now directly owns 36,782 shares of the company’s stock, valued at $3,221,735.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director F Quinn Stepan sold 3,433 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $87.59, for a total transaction of $300,696.47. Following the completion of the sale, the director now directly owns 275,574 shares of the company’s stock, valued at $24,137,526.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,157 shares of company stock valued at $541,199. 12.60% of the stock is owned by corporate insiders.
Stepan (NYSE:SCL) last announced its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $1.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.38. Stepan had a net margin of 4.82% and a return on equity of 14.63%. The firm had revenue of $519.90 million during the quarter, compared to analysts’ expectations of $519.90 million. During the same period in the previous year, the company earned $1.32 earnings per share. Stepan’s quarterly revenue was up 5.0% compared to the same quarter last year. sell-side analysts predict that Stepan will post 4.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a $0.225 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.90 dividend on an annualized basis and a yield of 1.01%. Stepan’s dividend payout ratio (DPR) is presently 19.35%.
Separately, ValuEngine raised shares of Stepan from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.67.
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.
Featured Article: How to Track your Portfolio in Google Finance
Want to see what other hedge funds are holding SCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stepan (NYSE:SCL).
Receive News & Ratings for Stepan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stepan and related companies with MarketBeat.com's FREE daily email newsletter.