Empowered Funds LLC lifted its position in Stepan Company (NYSE:SCL - Free Report) by 124.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,376 shares of the basic materials company's stock after purchasing an additional 96,823 shares during the period. Empowered Funds LLC owned about 0.77% of Stepan worth $8,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the company. Deprince Race & Zollo Inc. grew its stake in shares of Stepan by 5.2% in 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 during the period. Geode Capital Management LLC boosted its stake in shares of Stepan by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 514,401 shares of the basic materials company's stock worth $24,362,000 after buying an additional 2,060 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Stepan by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 477,456 shares of the basic materials company's stock valued at $22,612,000 after acquiring an additional 23,097 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Stepan by 195.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 299,970 shares of the basic materials company's stock valued at $14,207,000 after acquiring an additional 198,457 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Stepan by 36.7% in the fourth quarter. Russell Investments Group Ltd. now owns 285,918 shares of the basic materials company's stock valued at $13,541,000 after purchasing an additional 76,711 shares during the last quarter. Institutional investors and hedge funds own 82.70% of the company's stock.
Stepan Stock Down 0.5%
Shares of SCL opened at $64.96 on Friday. The company has a 50-day simple moving average of $58.09 and a 200-day simple moving average of $54.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 1.15. The firm has a market capitalization of $1.48 billion, a P/E ratio of -541.36 and a beta of 0.94. Stepan Company has a 52 week low of $41.82 and a 52 week high of $68.00.
Stepan (NYSE:SCL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.57. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The company had revenue of $684.11 million during the quarter, compared to analysts' expectations of $635.85 million. During the same quarter in the prior year, the company posted $0.52 EPS. The business's revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that Stepan Company will post 2.69 earnings per share for the current year.
Stepan Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Stepan's payout ratio is presently -1,316.67%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Weiss Ratings raised Stepan from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 29th. Seaport Research Partners restated a "buy" rating and issued a $85.00 price target on shares of Stepan in a research note on Friday, August 7th. Wall Street Zen raised Stepan from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded Stepan from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce".
Get Our Latest Analysis on SCL
About Stepan
(
Free Report)
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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