Stepan Company (SCL) Rating Reiterated by TD Securities
Stepan Company (NYSE:SCL)‘s stock had its “buy” rating reiterated by equities research analysts at TD Securities in a note issued to investors on Sunday. They currently have a $33.00 target price on the basic materials company’s stock. TD Securities’ price objective points to a potential downside of 59.98% from the company’s previous close.
SCL has been the subject of a number of other reports. BidaskClub cut Stepan from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Industrial Alliance Securities raised Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research note on Monday, May 29th. BMO Capital Markets lowered their target price on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. National Bank Financial lowered their target price on Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, June 26th. Finally, KeyCorp reissued a “hold” rating on shares of Stepan in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.80.
Shares of Stepan (NYSE:SCL) opened at 82.46 on Friday. Stepan has a 12-month low of $67.85 and a 12-month high of $92.97. The firm has a market capitalization of $1.86 billion, a PE ratio of 21.47 and a beta of 1.26. The company’s 50 day moving average is $78.87 and its 200 day moving average is $82.40.
Stepan (NYSE:SCL) last posted its earnings results on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.02). Stepan had a return on equity of 14.95% and a net margin of 4.85%. The business had revenue of $495.10 million for the quarter, compared to the consensus estimate of $472.35 million. During the same period in the previous year, the company posted $1.31 earnings per share. Stepan’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts forecast that Stepan will post $4.58 earnings per share for the current year.
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In other news, VP Scott R. Behrens sold 667 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $77.64, for a total transaction of $51,785.88. Following the completion of the transaction, the vice president now directly owns 3,266 shares of the company’s stock, valued at approximately $253,572.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director F Quinn Stepan sold 8,865 shares of the firm’s 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 transaction, the director now directly owns 287,962 shares of the company’s stock, valued at $23,180,941. The disclosure for this sale can be found here. Insiders have sold a total of 29,404 shares of company stock valued at $2,343,492 over the last ninety days. Company insiders own 13.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Meadow Creek Investment Management LLC grew its stake in shares of Stepan by 1.8% during the 1st quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock worth $124,000 after acquiring an additional 28 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Stepan by 0.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,740 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 40 shares in the last quarter. US Bancorp DE grew its stake in shares of Stepan by 0.6% during the 1st quarter. US Bancorp DE now owns 6,639 shares of the basic materials company’s stock worth $523,000 after acquiring an additional 41 shares in the last quarter. Hancock Holding Co. grew its stake in shares of Stepan by 0.5% during the 2nd quarter. Hancock Holding Co. now owns 14,368 shares of the basic materials company’s stock worth $1,252,000 after acquiring an additional 68 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Stepan by 1.0% during the 1st quarter. Arizona State Retirement System now owns 10,145 shares of the basic materials company’s stock worth $800,000 after acquiring an additional 100 shares in the last quarter. 62.53% of the stock is owned by institutional investors.
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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