CenterBook Partners LP Cuts Stock Position in Stepan Company (NYSE:SCL)

CenterBook Partners LP lowered its holdings in shares of Stepan Company (NYSE:SCL - Free Report) by 63.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,253 shares of the basic materials company's stock after selling 30,223 shares during the period. CenterBook Partners LP owned approximately 0.08% of Stepan worth $950,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SCL. Forum Financial Management LP lifted its holdings in shares of Stepan by 4.0% in the fourth quarter. Forum Financial Management LP now owns 6,606 shares of the basic materials company's stock valued at $427,000 after purchasing an additional 257 shares in the last quarter. US Bancorp DE increased its position in Stepan by 2.7% in the first quarter. US Bancorp DE now owns 14,057 shares of the basic materials company's stock worth $774,000 after buying an additional 373 shares during the last quarter. Copeland Capital Management LLC increased its position in Stepan by 67.9% in the first quarter. Copeland Capital Management LLC now owns 1,048 shares of the basic materials company's stock worth $58,000 after buying an additional 424 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Stepan by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,146 shares of the basic materials company's stock worth $786,000 after buying an additional 456 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Stepan by 4.0% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the basic materials company's stock worth $848,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 82.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Stepan from a "hold" rating to a "buy" rating in a research report on Friday, June 27th.

Stepan Trading Down 1.6%

Shares of NYSE SCL traded down $0.94 during midday trading on Friday, reaching $56.35. The company had a trading volume of 100,709 shares, compared to its average volume of 125,041. Stepan Company has a one year low of $44.23 and a one year high of $91.92. The company has a quick ratio of 0.79, a current ratio of 1.21 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $55.90 and its 200-day moving average price is $56.84. The stock has a market cap of $1.27 billion, a PE ratio of 22.91 and a beta of 1.01.

Stepan (NYSE:SCL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.33. Stepan had a return on equity of 4.61% and a net margin of 2.53%. The firm had revenue of $593.26 million for the quarter, compared to the consensus estimate of $562.77 million. During the same quarter in the prior year, the business earned $0.64 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Stepan Company will post 3.55 earnings per share for the current year.

Stepan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.385 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.54 annualized dividend and a yield of 2.73%. Stepan's dividend payout ratio (DPR) is presently 62.60%.

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.