Stepan (NYSE:SCL - Get Free Report) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $48.19, but opened at $51.16. Stepan shares last traded at $51.70, with a volume of 16,149 shares changing hands.
The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.33. Stepan had a return on equity of 4.21% and a net margin of 2.31%. The business had revenue of $593.26 million for the quarter, compared to analysts' expectations of $562.77 million. During the same period in the previous year, the firm posted $0.64 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year.
Stepan Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, May 30th. Stepan's dividend payout ratio (DPR) is presently 62.60%.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Stepan from a "hold" rating to a "buy" rating in a research note on Thursday.
Check Out Our Latest Stock Report on Stepan
Insider Buying and Selling at Stepan
In related news, Director Susan Lewis bought 500 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average cost of $63.53 per share, for a total transaction of $31,765.00. Following the completion of the acquisition, the director now owns 1,896 shares in the company, valued at approximately $120,452.88. This trade represents a 35.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Stepan
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Stepan by 177.6% in the third quarter. Barclays PLC now owns 44,790 shares of the basic materials company's stock valued at $3,460,000 after acquiring an additional 28,655 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Stepan by 19.8% in the third quarter. JPMorgan Chase & Co. now owns 142,790 shares of the basic materials company's stock valued at $11,031,000 after buying an additional 23,626 shares during the last quarter. Principal Financial Group Inc. raised its stake in Stepan by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 102,610 shares of the basic materials company's stock valued at $6,639,000 after buying an additional 2,844 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Stepan by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,560,605 shares of the basic materials company's stock worth $165,671,000 after buying an additional 25,841 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Stepan by 110.6% during the 4th quarter. Versant Capital Management Inc now owns 457 shares of the basic materials company's stock worth $30,000 after acquiring an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company's stock.
Stepan Trading Up 2.8 %
The company has a current ratio of 1.21, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.24 billion, a PE ratio of 24.84 and a beta of 0.97. The business has a fifty day moving average price of $53.54 and a 200 day moving average price of $63.66.
Stepan Company Profile
(
Get Free Report)
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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