Profund Advisors LLC Has $241,000 Stake in Stepan Company (SCL)
Profund Advisors LLC decreased its position in Stepan Company (NYSE:SCL) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,763 shares of the basic materials company’s stock after selling 159 shares during the quarter. Profund Advisors LLC’s holdings in Stepan were worth $241,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Stepan by 2.8% in the 2nd quarter. BlackRock Inc. now owns 2,597,255 shares of the basic materials company’s stock worth $226,324,000 after purchasing an additional 71,360 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Stepan by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 2,139,078 shares of the basic materials company’s stock worth $168,580,000 after purchasing an additional 126,830 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Stepan by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,054,944 shares of the basic materials company’s stock worth $83,139,000 after purchasing an additional 5,559 shares during the last quarter. State Street Corp grew its holdings in shares of Stepan by 3.8% in the 1st quarter. State Street Corp now owns 487,206 shares of the basic materials company’s stock worth $38,400,000 after purchasing an additional 17,784 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Stepan by 4.5% in the 1st quarter. Renaissance Technologies LLC now owns 310,300 shares of the basic materials company’s stock worth $24,455,000 after purchasing an additional 13,500 shares during the last quarter. 62.53% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Michael Ross Boyce sold 872 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $77.00, for a total transaction of $67,144.00. Following the sale, the director now directly owns 12,026 shares in the company, valued at $926,002. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Frank Pacholec sold 1,500 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $81.60, for a total value of $122,400.00. Following the sale, the vice president now owns 48,597 shares in the company, valued at $3,965,515.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,404 shares of company stock worth $2,343,492. Company insiders own 13.10% of the company’s stock.
Stepan (NYSE:SCL) last released its 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). Stepan had a net margin of 4.85% and a return on equity of 14.95%. The business had revenue of $495.10 million during the quarter, compared to the consensus estimate of $472.35 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 8.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, August 29th. Stepan’s dividend payout ratio is presently 21.52%.
Several research firms have recently weighed in on SCL. Zacks Investment Research lowered shares of Stepan from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Stepan from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. National Bank Financial lowered 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. TD Securities reaffirmed a “buy” rating and issued a $33.00 target price on shares of Stepan in a report on Sunday, September 24th. Finally, BMO Capital Markets lowered their target price on shares of Stepan from $42.00 to $36.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $36.25.
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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