Q1 2024 EPS Estimates for Stepan (NYSE:SCL) Raised by Seaport Res Ptn

Stepan (NYSE:SCL - Free Report) - Stock analysts at Seaport Res Ptn upped their Q1 2024 earnings per share (EPS) estimates for Stepan in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the basic materials company will earn $0.39 per share for the quarter, up from their previous forecast of $0.38. The consensus estimate for Stepan's current full-year earnings is $2.50 per share.

Separately, StockNews.com upgraded Stepan from a "sell" rating to a "hold" rating in a report on Tuesday, March 26th.

Stepan Trading Up 2.6 %

NYSE SCL traded up $2.11 on Friday, reaching $84.17. The company had a trading volume of 69,333 shares, compared to its average volume of 77,579. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 48.10 and a beta of 0.83. Stepan has a fifty-two week low of $63.60 and a fifty-two week high of $100.61. The business has a 50 day moving average of $88.00 and a two-hundred day moving average of $85.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.40 and a quick ratio of 0.96.

Stepan (NYSE:SCL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.04). The company had revenue of $532.13 million during the quarter, compared to analyst estimates of $534.48 million. Stepan had a net margin of 1.73% and a return on equity of 4.20%. The business's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share.

Stepan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.50 annualized dividend and a dividend yield of 1.78%. Stepan's dividend payout ratio is presently 85.71%.

Insider Activity

In other news, Director F Quinn Stepan, Jr. sold 5,000 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $91.07, for a total value of $455,350.00. Following the completion of the sale, the director now directly owns 255,567 shares in the company, valued at approximately $23,274,486.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director F Quinn Stepan, Jr. sold 5,000 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $91.07, for a total value of $455,350.00. Following the transaction, the director now owns 255,567 shares of the company's stock, valued at approximately $23,274,486.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director F Quinn Stepan, Jr. sold 3,637 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.11, for a total transaction of $327,730.07. Following the completion of the transaction, the director now directly owns 255,567 shares in the company, valued at approximately $23,029,142.37. The disclosure for this sale can be found here. Insiders sold a total of 10,637 shares of company stock worth $957,940 in the last three months. Company insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Stepan

Several large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in shares of Stepan by 26.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,442 shares of the basic materials company's stock valued at $241,000 after purchasing an additional 517 shares during the last quarter. Raymond James & Associates raised its stake in shares of Stepan by 8.9% during the 1st quarter. Raymond James & Associates now owns 3,291 shares of the basic materials company's stock worth $325,000 after purchasing an additional 268 shares during the period. Citigroup Inc. raised its stake in shares of Stepan by 18.3% during the 1st quarter. Citigroup Inc. now owns 19,586 shares of the basic materials company's stock worth $1,935,000 after purchasing an additional 3,027 shares during the period. MetLife Investment Management LLC raised its stake in shares of Stepan by 58.9% during the 1st quarter. MetLife Investment Management LLC now owns 11,487 shares of the basic materials company's stock worth $1,135,000 after purchasing an additional 4,260 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Stepan by 191.3% during the 1st quarter. Panagora Asset Management Inc. now owns 5,302 shares of the basic materials company's stock worth $524,000 after purchasing an additional 3,482 shares during the period. Institutional investors own 82.70% of the company's stock.

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.