Stepan (NYSE:SCL - Get Free Report) shares gapped up prior to trading on Tuesday following a stronger than expected earnings report. 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 traded.
The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $0.64 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year.
Stepan Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.385 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.54 annualized dividend and a dividend yield of 2.88%. Stepan's dividend payout ratio is 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.
View Our Latest Stock Analysis on SCL
Insider Activity at Stepan
In other Stepan news, Director Susan Lewis acquired 500 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $63.53 per share, with a total value of $31,765.00. Following the completion of the purchase, the director now directly owns 1,896 shares of the company's stock, valued at approximately $120,452.88. The trade was a 35.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Stepan
Large investors have recently made changes to their positions in the business. Barclays PLC increased its position in Stepan by 177.6% during the 3rd quarter. Barclays PLC now owns 44,790 shares of the basic materials company's stock valued at $3,460,000 after buying an additional 28,655 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Stepan by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 142,790 shares of the basic materials company's stock valued at $11,031,000 after acquiring an additional 23,626 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Stepan by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 102,610 shares of the basic materials company's stock worth $6,639,000 after purchasing an additional 2,844 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $165,671,000 after purchasing an additional 25,841 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Stepan by 110.6% in the fourth quarter. Versant Capital Management Inc now owns 457 shares of the basic materials company's stock worth $30,000 after buying an additional 240 shares in the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.
Stepan Trading Up 5.9 %
The stock has a market cap of $1.21 billion, a PE ratio of 24.23 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 1.21 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average price is $53.71 and its 200 day moving average price is $63.88.
About Stepan
(
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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