Wellington Shields Downgrades Stepan Company (SCL) to Hold
Wellington Shields cut shares of Stepan Company (NYSE:SCL) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat.com reports.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Stepan from a sell rating to a hold rating in a report on Friday, March 31st. BidaskClub upgraded Stepan from a hold rating to a buy rating in a report on Saturday, June 10th. ValuEngine upgraded Stepan from a hold rating to a buy rating in a report on Friday, June 2nd. Industrial Alliance Securities upgraded Stepan from a buy rating to a strong-buy rating and set a $41.00 price objective for the company in a report on Monday, May 29th. Finally, National Bank Financial decreased their price objective on Stepan from $40.00 to $27.00 and set a sector perform rating for the company in a report on Monday, June 26th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $53.00.
Stepan (SCL) traded down 0.21% during trading on Thursday, reaching $82.01. 63,856 shares of the company’s stock were exchanged. Stepan has a 12 month low of $63.33 and a 12 month high of $92.97. The stock has a market cap of $1.88 billion, a PE ratio of 21.35 and a beta of 1.28. The firm has a 50 day moving average of $87.86 and a 200-day moving average of $82.04.
Stepan (NYSE:SCL) last posted its quarterly earnings data 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. The firm had revenue of $495.10 million during the quarter, compared to the consensus estimate of $472.35 million. Stepan had a return on equity of 14.95% and a net margin of 4.85%. Stepan’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. On average, equities research analysts anticipate that Stepan will post $4.64 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.00%. Stepan’s payout ratio is presently 21.52%.
In other news, Chairman F Quinn Stepan, Jr. sold 5,381 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $85.15, for a total transaction of $458,192.15. Following the completion of the transaction, the chairman now directly owns 141,952 shares in the company, valued at $12,087,212.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman F Quinn Stepan, Jr. sold 14,348 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $85.44, for a total value of $1,225,893.12. Following the transaction, the chairman now owns 145,919 shares of the company’s stock, valued at $12,467,319.36. The disclosure for this sale can be found here. Insiders have sold 29,584 shares of company stock valued at $2,524,956 over the last 90 days. Corporate insiders own 13.10% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Bowling Portfolio Management LLC increased its position in shares of Stepan by 17.3% in the first quarter. Bowling Portfolio Management LLC now owns 10,754 shares of the basic materials company’s stock valued at $848,000 after buying an additional 1,586 shares during the last quarter. Hillcrest Asset Management LLC bought a new position in shares of Stepan during the first quarter valued at $11,098,000. IFP Advisors Inc increased its position in shares of Stepan by 101.0% in the first quarter. IFP Advisors Inc now owns 6,032 shares of the basic materials company’s stock valued at $475,000 after buying an additional 3,031 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of 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 valued at $150,000 after buying an additional 34 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Stepan by 16.3% in the first quarter. ProShare Advisors LLC now owns 84,836 shares of the basic materials company’s stock valued at $6,686,000 after buying an additional 11,875 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.
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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