Stepan Company (SCL) Holdings Trimmed by Royal Bank of Canada
Royal Bank of Canada decreased its position in Stepan Company (NYSE:SCL) by 22.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,222 shares of the basic materials company’s stock after selling 642 shares during the period. Royal Bank of Canada’s holdings in Stepan were worth $194,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCL. Teachers Advisors LLC increased its holdings in Stepan by 1.0% in the first quarter. Teachers Advisors LLC now owns 63,862 shares of the basic materials company’s stock valued at $5,033,000 after buying an additional 610 shares in the last quarter. State Street Corp grew its position in shares of Stepan by 3.8% in the first quarter. State Street Corp now owns 487,206 shares of the basic materials company’s stock valued at $38,400,000 after purchasing an additional 17,784 shares during the period. State of Alaska Department of Revenue grew its position in shares of Stepan by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 3,858 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 1,708 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Stepan by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the basic materials company’s stock valued at $697,000 after purchasing an additional 100 shares during the period. Finally, US Bancorp DE grew its position in shares of Stepan by 1.9% in the second quarter. US Bancorp DE now owns 6,766 shares of the basic materials company’s stock valued at $590,000 after purchasing an additional 127 shares during the period. 61.65% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on SCL. Scotiabank upgraded shares of Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 target price on the stock in a research report on Tuesday, November 14th. National Bank Financial lifted their target price on shares of Stepan from $35.00 to $36.00 in a research report on Monday, November 13th. Zacks Investment Research lowered shares of Stepan from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. TD Securities reiterated a “buy” rating and issued a $33.00 target price on shares of Stepan in a research report on Sunday, September 24th. Finally, KeyCorp reiterated a “hold” rating on shares of Stepan in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $35.60.
Shares of Stepan Company (NYSE SCL) opened at $83.36 on Friday. Stepan Company has a 52-week low of $68.51 and a 52-week high of $92.97. The stock has a market cap of $1,877.48, a PE ratio of 20.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.64 and a quick ratio of 2.08.
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 the Thomson Reuters’ consensus estimate of $1.09 by ($0.17). The company had revenue of $487.81 million during the quarter, compared to analyst estimates of $469.75 million. Stepan had a net margin of 4.81% and a return on equity of 13.98%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 EPS. sell-side analysts forecast that Stepan Company will post 4.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 yield of 1.08%. Stepan’s payout ratio is presently 21.24%.
In related news, VP Frank Pacholec sold 1,500 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $81.60, for a total transaction of $122,400.00. Following the transaction, the vice president now directly owns 48,597 shares in the company, valued at $3,965,515.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Debra Stefaniak sold 818 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $82.66, for a total transaction of $67,615.88. Following the transaction, the vice president now owns 6,616 shares in the company, valued at $546,878.56. The disclosure for this sale can be found here. Insiders have sold 5,650 shares of company stock worth $458,343 over the last 90 days. 13.10% of the stock is currently owned by company insiders.
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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