Stepan Company $SCL Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Stepan Company by 14.8%, owning 65,773 shares worth approximately $3.62 million after selling 11,451 shares in the first quarter.
• Stepan's stock has been downgraded to a "strong sell" by Zacks Research, with a current consensus rating of "Sell" following poor earnings results that missed analysts' expectations.
• The company announced a quarterly dividend of $0.385 per share, representing an annualized dividend yield of 3.2%, with a payout ratio of 60.63%.

Rhumbline Advisers trimmed its position in Stepan Company (NYSE:SCL - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,773 shares of the basic materials company's stock after selling 11,451 shares during the period. Rhumbline Advisers owned 0.29% of Stepan worth $3,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Stepan by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 66,301 shares of the basic materials company's stock worth $3,649,000 after purchasing an additional 2,707 shares in the last quarter. Dean Capital Management lifted its holdings in Stepan by 76.0% in the first quarter. Dean Capital Management now owns 14,749 shares of the basic materials company's stock worth $812,000 after acquiring an additional 6,370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Stepan by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,701 shares of the basic materials company's stock worth $699,000 after acquiring an additional 555 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Stepan by 10.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 109,339 shares of the basic materials company's stock worth $6,018,000 after acquiring an additional 10,464 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in Stepan in the first quarter worth about $818,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCL has been the topic of a number of recent analyst reports. Zacks Research cut Stepan from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 13th. Wall Street Zen cut Stepan from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Stepan Stock Up 1.1%

SCL stock opened at $48.66 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of 19.16 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. The company has a fifty day simple moving average of $52.20 and a 200 day simple moving average of $53.44.

Stepan (NYSE:SCL - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.40). The firm 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 revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. Sell-side analysts anticipate that Stepan Company will post 3.55 EPS for the current fiscal year.

Stepan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.385 per share. The ex-dividend date was Friday, August 29th. This represents a $1.54 annualized dividend and a dividend yield of 3.2%. Stepan's payout ratio 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.

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