Stepan (NYSE:SCL) to Issue $0.38 Quarterly Dividend

Stepan (NYSE:SCL - Get Free Report) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.375 per share by the basic materials company on Friday, June 14th. This represents a $1.50 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, May 31st.

Stepan has increased its dividend by an average of 9.2% annually over the last three years and has raised its dividend every year for the last 56 years. Stepan has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Stepan to earn $4.53 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 33.1%.

Stepan Stock Up 1.2 %

Shares of NYSE:SCL traded up $0.95 during midday trading on Wednesday, hitting $83.95. The stock had a trading volume of 51,147 shares, compared to its average volume of 76,736. Stepan has a 12 month low of $63.60 and a 12 month high of $100.61. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.89 billion, a P/E ratio of 48.01 and a beta of 0.83. The business's 50-day simple moving average is $86.98 and its 200-day simple moving average is $86.14.

Stepan (NYSE:SCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.29. Stepan had a return on equity of 4.20% and a net margin of 1.73%. The company had revenue of $551.40 million during the quarter, compared to analysts' expectations of $575.83 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business's revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Stepan will post 2.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director F Quinn Stepan, Jr. sold 3,637 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.11, for a total value of $327,730.07. Following the completion of the sale, the director now owns 255,567 shares in the company, valued at approximately $23,029,142.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director F Quinn Stepan, Jr. sold 3,637 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.11, for a total transaction of $327,730.07. Following the completion of the sale, the director now directly owns 255,567 shares of the company's stock, valued at approximately $23,029,142.37. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director F Quinn Stepan, Jr. sold 2,000 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.43, for a total transaction of $174,860.00. Following the completion of the transaction, the director now directly owns 250,676 shares in the company, valued at $21,916,602.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,637 shares of company stock worth $957,940. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

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

Stepan Company 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.