Nuveen LLC Takes $4.97 Million Position in Stepan Company $SCL

Key Points

• Nuveen LLC has made a new investment in Stepan Company, purchasing 90,325 shares valued at approximately $4.97 million, increasing its stake to 0.40% of the company.
• Stepan Company recently announced a quarterly dividend of $0.385 per share, translating to an annualized total of $1.54 and a dividend yield of 3.0%.
• Equities analysts have downgraded Stepan's stock rating multiple times, with an average rating of "Sell" and a recent downgrade from "buy" to "hold".

Nuveen LLC acquired a new stake in shares of Stepan Company (NYSE:SCL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,325 shares of the basic materials company's stock, valued at approximately $4,971,000. Nuveen LLC owned about 0.40% of Stepan at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in Stepan by 24.4% in the fourth quarter. Wells Fargo & Company MN now owns 14,018 shares of the basic materials company's stock worth $907,000 after acquiring an additional 2,746 shares during the period. Barclays PLC raised its position in shares of Stepan by 4.2% in the fourth quarter. Barclays PLC now owns 46,688 shares of the basic materials company's stock valued at $3,022,000 after purchasing an additional 1,898 shares during the period. Dimensional Fund Advisors LP grew its stake in Stepan by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,310,760 shares of the basic materials company's stock valued at $84,806,000 after acquiring an additional 18,392 shares in the last quarter. MetLife Investment Management LLC grew its stake in Stepan by 4.3% during the fourth quarter. MetLife Investment Management LLC now owns 12,865 shares of the basic materials company's stock valued at $832,000 after acquiring an additional 528 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Stepan by 31.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,223 shares of the basic materials company's stock worth $856,000 after acquiring an additional 3,153 shares during the last quarter. 82.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Stepan Stock Performance

Shares of NYSE SCL traded down $0.09 during trading on Friday, reaching $50.16. 148,328 shares of the company traded hands, compared to its average volume of 178,516. The company has a quick ratio of 0.86, a current ratio of 1.35 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.13 billion, a PE ratio of 19.75 and a beta of 0.98. The firm has a 50 day simple moving average of $53.84 and a 200-day simple moving average of $54.57. Stepan Company has a 52-week low of $44.23 and a 52-week high of $82.08.

Stepan (NYSE:SCL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.52 earnings per share (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 business had revenue of $594.69 million during the quarter, compared to analysts' expectations of $598.25 million. During the same period in the previous year, the business posted $0.41 EPS. The business's quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Stepan Company will post 3.55 earnings per share for the current year.

Stepan Dividend Announcement

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 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 dividend yield of 3.1%. Stepan's dividend payout ratio (DPR) is presently 60.63%.

About Stepan

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.