Pinebridge Investments L.P. Has $1.51 Million Position in Stepan Company (SCL)
Pinebridge Investments L.P. decreased its position in Stepan Company (NYSE:SCL) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,048 shares of the basic materials company’s stock after selling 5,513 shares during the quarter. Pinebridge Investments L.P. owned 0.08% of Stepan worth $1,510,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SCL. Advisor Group Inc. increased its stake in Stepan by 455.2% in the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 965 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Stepan by 224.9% in the second quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 1,100 shares during the last quarter. Victory Capital Management Inc. increased its stake in Stepan by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,254 shares of the basic materials company’s stock valued at $196,000 after purchasing an additional 337 shares during the last quarter. Amalgamated Bank increased its stake in Stepan by 3.9% in the second quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 104 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Stepan by 4.7% in the second quarter. Suntrust Banks Inc. now owns 3,275 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 146 shares during the last quarter. 63.21% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Debra Stefaniak sold 818 shares of Stepan stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $82.66, for a total value of $67,615.88. Following the transaction, the vice president now directly owns 6,616 shares in the company, valued at approximately $546,878.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Frank Pacholec sold 1,500 shares of Stepan stock in a transaction on Monday, September 11th. The shares were sold at an average price of $80.10, for a total transaction of $120,150.00. Following the completion of the transaction, the vice president now owns 49,014 shares in the company, valued at $3,926,021.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,650 shares of company stock worth $458,343. Insiders own 13.10% of the company’s stock.
Shares of Stepan Company (NYSE:SCL) traded down $0.41 on Friday, hitting $78.53. 64,200 shares of the stock were exchanged, compared to its average volume of 73,484. The company has a current ratio of 2.64, a quick ratio of 2.08 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1,777.93, a price-to-earnings ratio of 19.16 and a beta of 1.29. Stepan Company has a twelve month low of $68.51 and a twelve month high of $92.97.
Stepan (NYSE:SCL) last announced its earnings results on Wednesday, October 25th. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.17). The business had revenue of $487.81 million for the quarter, compared to analysts’ expectations of $469.75 million. Stepan had a return on equity of 13.98% and a net margin of 4.81%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. analysts expect that Stepan Company will post 4.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This is a positive change from Stepan’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.15%. Stepan’s dividend payout ratio (DPR) is 23.32%.
Several equities analysts have commented on SCL shares. KeyCorp reiterated a “hold” rating on shares of Stepan in a research note on Friday, September 1st. National Bank Financial upgraded shares of Stepan from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $27.00 to $35.00 in a research note on Wednesday, October 11th. Zacks Investment Research lowered shares of Stepan from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Scotiabank upgraded shares of Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 price target on the stock in a research note on Tuesday, November 14th. Finally, TD Securities reiterated a “buy” rating and issued a $33.00 price target on shares of Stepan in a research note on Sunday, September 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.60.
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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