Capital Management Associates NY Has $376,000 Position in Stepan Company (SCL)
Capital Management Associates NY lessened its stake in shares of Stepan Company (NYSE:SCL) by 35.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the basic materials company’s stock after selling 2,500 shares during the quarter. Capital Management Associates NY’s holdings in Stepan were worth $376,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Stepan by 119.8% during the 1st quarter. Bank of America Corp DE now owns 119,448 shares of the basic materials company’s stock valued at $9,413,000 after purchasing an additional 65,099 shares in the last quarter. Vanguard Group Inc. increased its holdings in Stepan by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,151,859 shares of the basic materials company’s stock valued at $187,513,000 after purchasing an additional 12,781 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Stepan by 137.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,592 shares of the basic materials company’s stock valued at $2,578,000 after buying an additional 17,132 shares during the period. Renaissance Technologies LLC increased its stake in shares of Stepan by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 320,200 shares of the basic materials company’s stock valued at $27,902,000 after buying an additional 9,900 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Stepan by 16.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 144,058 shares of the basic materials company’s stock valued at $11,354,000 after buying an additional 20,527 shares during the period. 61.91% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on SCL shares. Wellington Shields cut Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. 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. BMO Capital Markets lowered their target price on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. Finally, KeyCorp reissued a “hold” rating on shares of Stepan in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $36.50.
In other news, VP Arthur W. Mergner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $81.16, for a total value of $81,160.00. Following the transaction, the vice president now directly owns 2,960 shares in the company, valued at approximately $240,233.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Frank Pacholec sold 1,500 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $80.10, for a total value of $120,150.00. Following the completion of the transaction, the vice president now owns 49,014 shares in the company, valued at $3,926,021.40. The disclosure for this sale can be found here. Insiders sold a total of 7,371 shares of company stock worth $588,987 over the last 90 days. 13.10% of the stock is owned by corporate insiders.
Stepan Company (NYSE SCL) traded down $0.64 during trading hours on Tuesday, hitting $79.37. The stock had a trading volume of 11,968 shares, compared to its average volume of 73,773. Stepan Company has a 1-year low of $68.51 and a 1-year high of $92.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.64 and a quick ratio of 2.08. The company has a market cap of $1,790.00, a price-to-earnings ratio of 19.28 and a beta of 1.28.
Stepan (NYSE:SCL) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.17). Stepan had a return on equity of 13.98% and a net margin of 4.81%. The company had revenue of $487.81 million during the quarter, compared to the consensus estimate of $469.75 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. sell-side analysts predict that Stepan Company will post 4.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.225 dividend. This is a positive change from Stepan’s previous quarterly dividend of $0.21. This represents a $0.90 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, November 29th. Stepan’s dividend payout ratio (DPR) is currently 20.87%.
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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