48,126 Shares in Stepan Company $SCL Bought by PDT Partners LLC

Key Points

• PDT Partners LLC acquired 48,126 Stepan shares worth approximately $2.68 million, giving it a 0.21% stake. Institutional investors collectively own 82.7% of the company.
• Stepan reported stronger-than-expected quarterly results, with EPS of $1.18 versus the $0.61 consensus and revenue of $684.1 million, up 15% year over year.
• The company declared a quarterly dividend of $0.395 per share, equivalent to $1.58 annually and a 2.5% yield. Analyst sentiment remains cautious, with the stock carrying an average “Reduce” rating despite some recent upgrades.

PDT Partners LLC acquired a new position in Stepan Company (NYSE:SCL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 48,126 shares of the basic materials company's stock, valued at approximately $2,682,000. PDT Partners LLC owned approximately 0.21% of Stepan at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. increased its position in Stepan by 5.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 947,452 shares of the basic materials company's stock valued at $47,354,000 after buying an additional 47,075 shares in the last quarter. Empowered Funds LLC boosted its holdings in Stepan by 124.8% in the first quarter. Empowered Funds LLC now owns 174,376 shares of the basic materials company's stock worth $8,715,000 after acquiring an additional 96,823 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Stepan in the first quarter worth $850,000. First Trust Advisors LP grew its stake in shares of Stepan by 11.2% in the first quarter. First Trust Advisors LP now owns 94,340 shares of the basic materials company's stock worth $4,715,000 after acquiring an additional 9,534 shares during the last quarter. Finally, Dean Capital Management grew its stake in shares of Stepan by 96.4% in the first quarter. Dean Capital Management now owns 57,248 shares of the basic materials company's stock worth $2,861,000 after acquiring an additional 28,104 shares during the last quarter. Hedge funds and other institutional investors own 82.70% of the company's stock.

Stepan Stock Up 0.9%

Shares of Stepan stock opened at $62.60 on Thursday. Stepan Company has a twelve month low of $41.82 and a twelve month high of $68.00. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The company's 50 day moving average is $59.69 and its 200 day moving average is $54.99. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -521.67 and a beta of 0.94.

Stepan (NYSE:SCL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.57. The business had revenue of $684.11 million during the quarter, compared to the consensus estimate of $635.85 million. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The firm's revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. Research analysts anticipate that Stepan Company will post 2.69 EPS for the current year.

Stepan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.395 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.58 annualized dividend and a dividend yield of 2.5%. Stepan's payout ratio is presently -1,316.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SCL shares. Seaport Research Partners reaffirmed a "buy" rating and issued a $85.00 price target on shares of Stepan in a research report on Friday, August 7th. Wall Street Zen raised shares of Stepan from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Stepan from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 29th. Finally, Zacks Research raised shares of Stepan from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce".

Stepan Company Profile

Stepan Company is a global manufacturer of specialty and intermediate chemicals, primarily known for its development and production of surfactants and related specialty products. The company's portfolio includes a wide range of ingredients used to enhance the performance of consumer and industrial formulations, such as emulsifiers, foam control agents, odor control agents, antimicrobial products and performance additives. These products are integral components in cleaning solutions, personal care items, agrochemical formulations, coatings, oilfield treatments and polymer systems.

Serving a diverse set of end-markets, Stepan's offerings address both consumer-facing and industrial applications.

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