IFP Advisors Inc Acquires 1,561 Shares of Stepan Company (SCL)
IFP Advisors Inc raised its stake in Stepan Company (NYSE:SCL) by 25.9% during the second quarter, Holdings Channel reports. The institutional investor owned 7,593 shares of the basic materials company’s stock after buying an additional 1,561 shares during the period. IFP Advisors Inc’s holdings in Stepan were worth $662,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Teachers Advisors LLC increased its stake in Stepan by 47.3% in the fourth quarter. Teachers Advisors LLC now owns 63,252 shares of the basic materials company’s stock valued at $5,154,000 after buying an additional 20,302 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Stepan by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the basic materials company’s stock valued at $623,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Stepan by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,150 shares of the basic materials company’s stock valued at $169,000 after buying an additional 40 shares in the last quarter. Personal Capital Advisors Corp increased its stake in Stepan by 7.2% in the first quarter. Personal Capital Advisors Corp now owns 145,952 shares of the basic materials company’s stock valued at $11,326,000 after buying an additional 9,850 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Stepan by 16.3% in the first quarter. ProShare Advisors LLC now owns 84,836 shares of the basic materials company’s stock valued at $6,686,000 after buying an additional 11,875 shares in the last quarter. Institutional investors and hedge funds own 61.95% of the company’s stock.
Stepan Company (NYSE:SCL) opened at 78.97 on Friday. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 20.56 and a beta of 1.26. Stepan Company has a 12-month low of $66.20 and a 12-month high of $92.97. The firm’s 50-day moving average is $85.85 and its 200 day moving average is $82.07.
Stepan (NYSE:SCL) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $472.35 million. Stepan had a net margin of 4.85% and a return on equity of 14.95%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $1.31 EPS. On average, equities analysts expect that Stepan Company will post $4.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, August 29th. Stepan’s dividend payout ratio (DPR) is presently 21.52%.
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Several research analysts have issued reports on SCL shares. Zacks Investment Research upgraded shares of Stepan from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Industrial Alliance Securities upgraded shares of Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Monday, May 29th. ValuEngine upgraded shares of Stepan from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Stepan from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, National Bank Financial lowered their price target on shares of Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Stepan presently has an average rating of “Hold” and an average target price of $53.00.
In other news, Director F Quinn Stepan sold 8,865 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.50, for a total transaction of $713,632.50. Following the completion of the sale, the director now owns 287,962 shares of the company’s stock, valued at $23,180,941. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.10% 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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