US Bancorp DE Purchases 6,633 Shares of Stepan Company $SCL

Key Points

• US Bancorp DE increased its holdings in Stepan Company by 47.2%, acquiring an additional 6,633 shares in Q2, bringing its total ownership to 20,690 shares worth approximately $1.13 million.
• Stepan Company reported $0.52 EPS for Q2, missing the consensus estimate of $0.92, indicating challenges despite a year-over-year revenue increase of 6.9%.
• The company announced a quarterly dividend of $0.385 per share, reflecting an annual yield of 3.4%, with a payout ratio of 60.63%.

US Bancorp DE raised its position in Stepan Company (NYSE:SCL - Free Report) by 47.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,690 shares of the basic materials company's stock after purchasing an additional 6,633 shares during the period. US Bancorp DE owned 0.09% of Stepan worth $1,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Stepan by 45.4% during the 2nd quarter. Parallel Advisors LLC now owns 589 shares of the basic materials company's stock valued at $32,000 after buying an additional 184 shares in the last quarter. GAMMA Investing LLC raised its position in Stepan by 231.4% in the 2nd quarter. GAMMA Investing LLC now owns 865 shares of the basic materials company's stock worth $47,000 after purchasing an additional 604 shares during the period. State of Wyoming purchased a new position in Stepan in the 1st quarter worth $50,000. Copeland Capital Management LLC increased its position 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 during the period. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Stepan in the second quarter valued at about $218,000. Hedge funds and other institutional investors own 82.70% of the company's stock.

Stepan Trading Down 1.0%

Shares of SCL opened at $45.75 on Friday. Stepan Company has a 1-year low of $44.23 and a 1-year high of $82.08. 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 $48.78 and its 200-day moving average price is $51.88. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 18.01 and a beta of 0.96.

Stepan (NYSE:SCL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $598.25 million. During the same period in the previous year, the firm earned $0.41 EPS. The company's revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Stepan Company will post 3.55 EPS for the current year.

Stepan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.54 annualized dividend and a yield of 3.4%. Stepan's payout ratio is presently 60.63%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SCL shares. Weiss Ratings cut shares of Stepan from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Stepan from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Zacks Research upgraded shares of Stepan from a "strong sell" rating to a "hold" rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce".

Stepan 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.

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