Insider Selling: Stepan Company (SCL) Chairman Sells 15,000 Shares of Stock
Stepan Company (NYSE:SCL) Chairman F Quinn Stepan, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $79.27, for a total transaction of $1,189,050.00. Following the transaction, the chairman now directly owns 151,864 shares in the company, valued at approximately $12,038,259.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Stepan Company (NYSE SCL) traded up 0.76% during trading on Wednesday, hitting $79.39. 66,734 shares of the company traded hands. The company’s 50 day moving average is $85.18 and its 200-day moving average is $82.12. Stepan Company has a 52 week low of $66.90 and a 52 week high of $92.97. The stock has a market capitalization of $1.79 billion, a PE ratio of 20.67 and a beta of 1.26.
Stepan (NYSE:SCL) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by $0.02. The business 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%. Stepan’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. Analysts predict that Stepan Company will post $4.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 yield of 1.03%. The ex-dividend date is Tuesday, August 29th. Stepan’s payout ratio is 21.52%.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Stepan by 52,898.2% in the first quarter. BlackRock Inc. now owns 2,525,895 shares of the basic materials company’s stock worth $199,067,000 after buying an additional 2,521,129 shares during the last quarter. HighTower Advisors LLC increased its stake in Stepan by 225.5% in the second quarter. HighTower Advisors LLC now owns 217,276 shares of the basic materials company’s stock worth $18,934,000 after buying an additional 150,522 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in Stepan during the first quarter worth $11,098,000. Vanguard Group Inc. boosted its position in Stepan by 6.3% in the first quarter. Vanguard Group Inc. now owns 2,139,078 shares of the basic materials company’s stock worth $168,580,000 after buying an additional 126,830 shares during the period. Finally, Teachers Advisors LLC boosted its position in Stepan by 151.1% in the second quarter. Teachers Advisors LLC now owns 160,351 shares of the basic materials company’s stock worth $13,973,000 after buying an additional 96,489 shares during the period. 62.06% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on SCL shares. Industrial Alliance Securities raised shares of Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a report on Monday, May 29th. ValuEngine raised shares of Stepan from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Stepan from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. National Bank Financial reduced their target price on shares of Stepan from $40.00 to $27.00 and set a “sector perform” rating on the stock in a report on Monday, June 26th. Finally, Zacks Investment Research lowered shares of Stepan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.00.
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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