Hsbc Holdings PLC Buys New Shares in Stepan Company $SCL

Key Points

• Hsbc Holdings PLC purchased 17,617 Stepan shares worth approximately $977,000 in the second quarter, giving it a 0.08% stake. Institutional investors collectively own 82.7% of the company.
• Stepan reported quarterly EPS of $1.18, exceeding the $0.61 analyst consensus, while revenue rose 15% year over year to $684.1 million.
• The company declared a quarterly dividend of $0.395 per share, representing an annualized payout of $1.58 and a 2.6% yield; despite some bullish analyst actions, the stock carries a consensus “Reduce” rating.

Hsbc Holdings PLC purchased a new stake in shares of Stepan Company (NYSE:SCL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,617 shares of the basic materials company's stock, valued at approximately $977,000. Hsbc Holdings PLC owned 0.08% of Stepan as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Stepan during the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Stepan by 206.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 351 shares during the period. 1620 Investment Advisors Inc. grew its stake in shares of Stepan by 86.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 265 shares during the period. Allworth Financial LP bought a new stake in Stepan during the 2nd quarter worth approximately $33,000. Finally, Parallel Advisors LLC lifted its holdings in Stepan by 700.0% during the fourth quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company's stock.

Stepan Stock Down 1.8%

NYSE SCL opened at $61.49 on Wednesday. Stepan Company has a 12 month low of $41.82 and a 12 month high of $68.00. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.40 billion, a PE ratio of -512.42 and a beta of 0.94. The stock's 50 day moving average is $60.39 and its 200 day moving average is $54.93.

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. The business had revenue of $684.11 million during the quarter, compared to analyst estimates of $635.85 million. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The company's revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. Research analysts predict that Stepan Company will post 2.69 EPS for the current fiscal year.

Stepan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.395 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.58 dividend on an annualized basis and a dividend yield of 2.6%. Stepan's dividend payout ratio is currently -1,316.67%.

Analysts Set New Price Targets

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

About Stepan

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source