Ieq Capital LLC Takes $428,000 Position in Stepan Company $SCL

Key Points

• Ieq Capital LLC has acquired a new stake in Stepan Company, purchasing 7,774 shares valued at approximately $428,000.
• Stepan Company reported a missed earnings estimate with earnings per share of $0.52 compared to the expected $0.92, along with revenues of $594.69 million.
• Despite the earnings miss, Stepan announced a quarterly dividend of $0.385 per share, representing a yield of 3.1%.

Ieq Capital LLC bought a new position in shares of Stepan Company (NYSE:SCL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,774 shares of the basic materials company's stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SCL. Versant Capital Management Inc increased its position in Stepan by 124.3% during the first quarter. Versant Capital Management Inc now owns 1,025 shares of the basic materials company's stock worth $56,000 after acquiring an additional 568 shares during the period. Copeland Capital Management LLC increased its position in Stepan by 67.9% during the first quarter. Copeland Capital Management LLC now owns 1,048 shares of the basic materials company's stock worth $58,000 after acquiring an additional 424 shares during the period. World Equity Group Inc. bought a new position in Stepan during the first quarter worth $273,000. Schonfeld Strategic Advisors LLC bought a new position in Stepan during the fourth quarter worth $294,000. Finally, Financial Counselors Inc. bought a new position in Stepan during the first quarter worth $352,000. Institutional investors own 82.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Stepan from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Stepan from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Stepan currently has an average rating of "Sell".

Stepan Price Performance

NYSE SCL traded down $0.82 on Wednesday, hitting $47.97. 86,327 shares of the company were exchanged, compared to its average volume of 183,503. The firm has a 50 day moving average of $52.79 and a two-hundred day moving average of $53.84. The company has a market cap of $1.09 billion, a P/E ratio of 18.89 and a beta of 0.97. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. Stepan Company has a 1-year low of $44.23 and a 1-year high of $82.08.

Stepan (NYSE:SCL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.40). The company had revenue of $594.69 million for the quarter, compared to analyst estimates of $598.25 million. Stepan had a return on equity of 4.78% and a net margin of 2.57%.The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, equities analysts predict that Stepan Company will post 3.55 EPS for the current year.

Stepan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.385 per share. The ex-dividend date is Friday, August 29th. This represents a $1.54 annualized dividend and a yield of 3.2%. Stepan's dividend payout ratio is 60.63%.

Stepan Profile

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used in consumer and industrial cleaning and disinfection 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, disinfectants, and lubricating ingredients.