Ieq Capital LLC Purchases New 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 1st quarter, according to its most recent disclosure with the SEC. The fund bought 7,774 shares of the basic materials company's stock, valued at approximately $428,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Stepan by 124.3% during the 1st quarter. Versant Capital Management Inc now owns 1,025 shares of the basic materials company's stock worth $56,000 after buying an additional 568 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Stepan by 67.9% in the first quarter. Copeland Capital Management LLC now owns 1,048 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 424 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Stepan in the fourth quarter valued at approximately $294,000. World Equity Group Inc. purchased a new position in Stepan in the first quarter valued at approximately $273,000. Finally, Financial Counselors Inc. purchased a new position in Stepan in the first quarter valued at approximately $352,000. 82.70% of the stock is owned by institutional investors and hedge funds.

Stepan Stock Up 1.1%

Stepan stock traded up $0.53 during trading hours on Friday, hitting $50.03. 147,947 shares of the stock traded hands, compared to its average volume of 179,322. The company has a current ratio of 1.35, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm's 50-day moving average price is $53.27 and its two-hundred day moving average price is $54.08. Stepan Company has a one year low of $44.23 and a one year high of $82.08. The company has a market cap of $1.13 billion, a PE ratio of 19.70 and a beta of 0.97.

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

Stepan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.385 dividend. This represents a $1.54 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 29th. Stepan's dividend payout ratio is 60.63%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Stepan from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Zacks Research downgraded Stepan from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Stepan currently has a consensus rating of "Sell".

Stepan Company 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.