Balyasny Asset Management L.P. Sells 7,918 Shares of Stepan (NYSE:SCL)

Balyasny Asset Management L.P. trimmed its holdings in Stepan (NYSE:SCL - Free Report) by 46.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,951 shares of the basic materials company's stock after selling 7,918 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Stepan were worth $579,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Forum Financial Management LP boosted its position in Stepan by 4.0% in the fourth quarter. Forum Financial Management LP now owns 6,606 shares of the basic materials company's stock worth $427,000 after purchasing an additional 257 shares during the last quarter. KBC Group NV boosted its holdings in shares of Stepan by 40.8% in the fourth quarter. KBC Group NV now owns 1,315 shares of the basic materials company's stock worth $85,000 after buying an additional 381 shares during the last quarter. MetLife Investment Management LLC grew its position in Stepan by 4.3% during the fourth quarter. MetLife Investment Management LLC now owns 12,865 shares of the basic materials company's stock valued at $832,000 after buying an additional 528 shares during the period. Sterling Capital Management LLC increased its holdings in Stepan by 781.4% during the fourth quarter. Sterling Capital Management LLC now owns 617 shares of the basic materials company's stock valued at $40,000 after buying an additional 547 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Stepan by 14.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,650 shares of the basic materials company's stock worth $430,000 after acquiring an additional 816 shares during the period. Hedge funds and other institutional investors own 82.70% of the company's stock.

Insider Activity

In related news, Director Susan Lewis bought 500 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average price of $63.53 per share, for a total transaction of $31,765.00. Following the completion of the transaction, the director now owns 1,896 shares in the company, valued at $120,452.88. The trade was a 35.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Stepan from a "hold" rating to a "buy" rating in a research note on Saturday.

Stepan Stock Performance

Shares of SCL stock traded down $0.43 during trading hours on Monday, reaching $55.64. 77,926 shares of the company traded hands, compared to its average volume of 121,038. The firm has a 50-day moving average price of $52.59 and a 200 day moving average price of $62.27. The company has a market cap of $1.26 billion, a P/E ratio of 25.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.21 and a quick ratio of 0.86. Stepan has a 12-month low of $44.23 and a 12-month high of $94.77.

Stepan (NYSE:SCL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.33. The business had revenue of $593.26 million during the quarter, compared to analyst estimates of $562.77 million. Stepan had a net margin of 2.31% and a return on equity of 4.21%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that Stepan will post 3.55 earnings per share for the current fiscal year.

Stepan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.385 per share. The ex-dividend date is Friday, May 30th. This represents a $1.54 dividend on an annualized basis and a yield of 2.77%. Stepan's dividend payout ratio is presently 62.60%.

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.