Stepan Company $SCL Shares Bought by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Stepan stake by 31.8% in the third quarter, adding 41,244 shares to hold 171,117 shares valued at about $10.7 million. Institutional investors collectively own 82.7% of the company.
• Stepan beat quarterly earnings and revenue expectations: EPS was $0.94 versus $0.73 expected, while revenue reached $692.15 million, up 17.3% year over year. Analysts’ average rating is “Reduce.”
• Stepan raised its quarterly dividend from $0.395 to $0.405 per share, equivalent to $1.62 annually and a 2.4% yield.

ProShare Advisors LLC grew its position in Stepan Company (NYSE:SCL - Free Report) by 31.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,117 shares of the basic materials company's stock after acquiring an additional 41,244 shares during the quarter. ProShare Advisors LLC owned about 0.75% of Stepan worth $10,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SCL. Northwestern Mutual Wealth Management Co. purchased a new stake in Stepan in the 2nd quarter valued at $25,000. Farther Finance Advisors LLC grew its position in Stepan by 194.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 395 shares of the basic materials company's stock worth $25,000 after purchasing an additional 261 shares during the last quarter. Allworth Financial LP purchased a new position in Stepan during the 2nd quarter worth $33,000. State of Wyoming purchased a new position in Stepan during the 2nd quarter worth $77,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Stepan in the second quarter valued at $85,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCL has been the subject of a number of research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Stepan in a report on Tuesday, October 27th. Zacks Research downgraded shares of Stepan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 28th. Seaport Research Partners reissued a "buy" rating and set a $85.00 price target on shares of Stepan in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Stepan from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Stepan presently has an average rating of "Reduce".

Stepan Stock Down 2.2%

Shares of Stepan stock opened at $68.77 on Wednesday. The company has a market cap of $1.56 billion, a P/E ratio of 361.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 1.32. Stepan Company has a one year low of $41.82 and a one year high of $72.67. The firm has a fifty day moving average of $63.27 and a two-hundred day moving average of $57.06.

Stepan (NYSE:SCL - Get Free Report) last released its earnings results on Wednesday, October 28th. The basic materials company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.73 by $0.21. The company had revenue of $692.15 million during the quarter, compared to analysts' expectations of $634.30 million. Stepan had a net margin of 0.17% and a return on equity of 4.81%. The business's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. On average, analysts forecast that Stepan Company will post 2.69 earnings per share for the current year.

Stepan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.4050 per share. This is an increase from Stepan's previous quarterly dividend of $0.3950. This represents a $1.62 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 1st. Stepan's dividend payout ratio is currently 831.58%.

About Stepan

Stepan Company NYSE: SCL is a global manufacturer of specialty and intermediate chemicals. Founded in 1932 and headquartered in Northfield, Illinois, the company develops products used by manufacturers in consumer and industrial markets.

Stepan's principal products include surfactants, which are used in detergents, cleaners, personal-care products, agricultural formulations and other applications. The company also produces polyurethane polyols, phthalic anhydride and other specialty chemicals used in insulation, construction materials, coatings, plastics, food packaging and related industrial products.

Stepan serves customers across North America, Latin America, Europe and Asia through a network of manufacturing facilities, research and development operations, and sales organizations.

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