Stepan (NYSE:SCL) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, "Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading producer of surfactants, which are the key ingredients in consumer and industrial cleaning compounds. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market and C.A.S.E. (Coatings, Adhesives, Sealants, and Elastomers) industries. "
Separately, Seaport Global Securities downgraded shares of Stepan from a "buy" rating to a "neutral" rating in a report on Monday, January 11th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of "Hold" and a consensus price target of $121.67.
Shares of NYSE:SCL opened at $119.01 on Tuesday. The firm has a fifty day moving average price of $122.07 and a two-hundred day moving average price of $117.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.75. Stepan has a one year low of $69.33 and a one year high of $131.72. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 23.34 and a beta of 0.74.
Stepan (NYSE:SCL) last announced its quarterly earnings results on Wednesday, February 17th. The basic materials company reported $1.42 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.08 by $0.34. Stepan had a net margin of 6.51% and a return on equity of 13.85%. Equities research analysts expect that Stepan will post 5.34 EPS for the current fiscal year.
In other Stepan news, VP Janet Anne Catlett sold 642 shares of the business's stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $118.25, for a total value of $75,916.50. Following the transaction, the vice president now owns 2,275 shares in the company, valued at $269,018.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Stepan by 189.0% during the first quarter. FMR LLC now owns 341 shares of the basic materials company's stock valued at $30,000 after buying an additional 223 shares during the period. USA Financial Portformulas Corp purchased a new position in shares of Stepan during the fourth quarter valued at about $57,000. Focused Wealth Management Inc purchased a new position in shares of Stepan during the fourth quarter valued at about $57,000. Veriti Management LLC purchased a new position in shares of Stepan during the fourth quarter valued at about $105,000. Finally, Fifth Third Bancorp purchased a new position in shares of Stepan during the third quarter valued at about $110,000. Institutional investors own 74.90% of the company's stock.
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
See Also: Monthly Dividend Stocks Can Provide Solid Income
Get a free copy of the Zacks research report on Stepan (SCL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Cryptocurrencies That Are Leading The Market Higher
An Influx Of Capital Is Driving Cryptocurrency Higher
There is an influx of money to the cryptocurrency market that is driving the entire complex higher. Not only is institutional interest peaking but recognition and use are on the rise as well. With Bitcoin setting new all-time highs 100% above the 2017 highs the number of new Bitcoin millionaires is on the rise too.
But Bitcoin is not the only cryptocurrency on the market today by far. The number of cryptocurrencies on the market has been growing steadily with more than 4,000 listed on Coinmarketcap alone. But that doesn’t mean they are all worth your time. Many if not most will not stand the test of time.
One way to judge the market’s interest in a cryptocurrency is its market performance gains. A cryptocurrency that is gaining in value is certainly one that you may want to own. The better method of judging the market’s interest in a cryptocurrency is the market cap. The cryptocurrency market is worth upwards of $1 trillion and growing, and most of that value is centered in the top seven. Together, the bottom 3,993 odd cryptocurrencies only account for 12% of the market and have yet to prove any lasting value.
View the "7 Cryptocurrencies That Are Leading The Market Higher".