Stepan (SCL) Shares Bought by Legal & General Group Plc
Legal & General Group Plc lifted its stake in Stepan (NYSE:SCL) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,482 shares of the basic materials company’s stock after acquiring an additional 2,712 shares during the period. Legal & General Group Plc’s holdings in Stepan were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Stepan in the 2nd quarter worth approximately $329,000. Bessemer Group Inc. lifted its stake in Stepan by 3.2% during the second quarter. Bessemer Group Inc. now owns 19,400 shares of the basic materials company’s stock valued at $1,513,000 after purchasing an additional 600 shares during the last quarter. Martingale Asset Management L P lifted its stake in Stepan by 4.2% during the second quarter. Martingale Asset Management L P now owns 75,229 shares of the basic materials company’s stock valued at $5,869,000 after purchasing an additional 3,001 shares during the last quarter. Strs Ohio lifted its stake in Stepan by 10.1% during the second quarter. Strs Ohio now owns 14,200 shares of the basic materials company’s stock valued at $1,107,000 after purchasing an additional 1,300 shares during the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in Stepan during the second quarter valued at approximately $175,000. 67.48% of the stock is owned by institutional investors.
In related news, Director F Quinn Stepan sold 3,433 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $87.59, for a total transaction of $300,696.47. Following the completion of the sale, the director now directly owns 275,574 shares of the company’s stock, valued at $24,137,526.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Frank Pacholec sold 500 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $89.49, for a total transaction of $44,745.00. Following the sale, the vice president now directly owns 36,482 shares of the company’s stock, valued at $3,264,774.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,657 shares of company stock valued at $585,944. Company insiders own 12.60% of the company’s stock.
Stepan (NYSE:SCL) last released its earnings results on Wednesday, July 25th. The basic materials company reported $1.38 EPS for the quarter, meeting the consensus estimate of $1.38. Stepan had a net margin of 4.82% and a return on equity of 14.63%. The business had revenue of $519.90 million during the quarter, compared to analyst estimates of $519.90 million. During the same period in the prior year, the business earned $1.32 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. equities analysts predict that Stepan will post 4.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 30th. Stepan’s dividend payout ratio is presently 19.35%.
Several analysts recently commented on the stock. Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Wednesday. ValuEngine raised shares of Stepan from a “sell” rating to a “hold” rating in a research note on Friday, July 20th.
Stepan Company Profile
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, and lubricating ingredients.
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