Stepan Company (SCL) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. lowered its position in Stepan Company (NYSE:SCL) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,793 shares of the basic materials company’s stock after selling 440 shares during the period. Capstone Asset Management Co.’s holdings in Stepan were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Meadow Creek Investment Management LLC boosted its stake in Stepan by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock worth $124,000 after buying an additional 28 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Stepan during the first quarter worth approximately $134,000. Glen Harbor Capital Management LLC boosted its stake in Stepan by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,904 shares of the basic materials company’s stock worth $150,000 after buying an additional 34 shares during the period. Victory Capital Management Inc. boosted its stake in Stepan by 28.8% in the first quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock worth $151,000 after buying an additional 429 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Stepan by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,150 shares of the basic materials company’s stock worth $169,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 61.95% of the company’s stock.
Shares of Stepan Company (NYSE SCL) traded down 0.01% during trading on Friday, reaching $78.96. The company had a trading volume of 34,577 shares. The stock has a 50 day moving average of $85.85 and a 200 day moving average of $82.07. Stepan Company has a 52-week low of $66.20 and a 52-week high of $92.97. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 20.56 and a beta of 1.26.
Stepan (NYSE:SCL) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $1.32 EPS for the quarter, missing the 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 firm had revenue of $495.10 million during the quarter, compared to analyst estimates of $472.35 million. During the same quarter in the previous year, the business posted $1.31 EPS. Stepan’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Stepan Company will post $4.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.205 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.04%. Stepan’s payout ratio is currently 21.52%.
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A number of analysts have recently commented on the company. BidaskClub cut Stepan from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Industrial Alliance Securities upgraded Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 target price on the stock in a research report on Monday, May 29th. Zacks Investment Research upgraded Stepan from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research report on Thursday, May 4th. National Bank Financial cut their target price on Stepan from $40.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Monday, June 26th. Finally, ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.00.
In other Stepan news, Director F Quinn Stepan sold 8,865 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.50, for a total value of $713,632.50. Following the sale, the director now owns 287,962 shares in the company, valued at $23,180,941. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.10% of the stock is currently owned by company insiders.
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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