Stepan Company (SCL) to Issue Quarterly Dividend of $0.21 on September 15th
Stepan Company (NYSE:SCL) declared a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Stockholders of record on Thursday, August 31st will be paid a dividend of 0.205 per share by the basic materials company on Friday, September 15th. This represents a $0.82 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Tuesday, August 29th.
Stepan has increased its dividend payment by an average of 6.0% annually over the last three years and has raised its dividend annually for the last 49 consecutive years. Stepan has a dividend payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stepan to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 16.0%.
Stepan (NYSE:SCL) opened at 76.98 on Monday. Stepan has a 52 week low of $66.97 and a 52 week high of $92.97. The company has a market capitalization of $1.73 billion, a PE ratio of 20.04 and a beta of 1.26. The stock’s 50 day moving average is $83.07 and its 200 day moving average is $82.03.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by $0.02. The company had revenue of $495.10 million for the quarter, compared to analysts’ expectations of $472.35 million. Stepan had a net margin of 4.85% and a return on equity of 14.95%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. Analysts predict that Stepan will post $4.58 EPS for the current fiscal year.
In other news, VP Frank Pacholec sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.33, for a total value of $79,330.00. Following the completion of the transaction, the vice president now owns 49,514 shares in the company, valued at $3,927,945.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott R. Behrens sold 667 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $77.64, for a total value of $51,785.88. Following the completion of the transaction, the vice president now owns 3,266 shares of the company’s stock, valued at approximately $253,572.24. The disclosure for this sale can be found here. Insiders sold 25,532 shares of company stock valued at $2,033,798 in the last 90 days. Company insiders own 13.10% of the company’s stock.
A number of brokerages have issued reports on SCL. Zacks Investment Research cut Stepan from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub cut Stepan from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine upgraded Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Industrial Alliance Securities upgraded Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research note on Monday, May 29th. Finally, National Bank Financial decreased their price target on Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Stepan currently has a consensus rating of “Hold” and a consensus price target of $48.40.
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Stepan Company Profile
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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