Cornerstone Capital Management Holdings LLC. Trims Holdings in Stepan Company (SCL)
Cornerstone Capital Management Holdings LLC. lessened its position in Stepan Company (NYSE:SCL) by 17.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 44,565 shares of the basic materials company’s stock after selling 9,100 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.20% of Stepan worth $3,727,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SCL. Vanguard Group Inc. lifted its holdings in shares of Stepan by 0.6% in the second 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. Stevens Capital Management LP lifted its holdings in shares of Stepan by 19.3% in the third quarter. Stevens Capital Management LP now owns 8,313 shares of the basic materials company’s stock valued at $695,000 after purchasing an additional 1,342 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Stepan in the second quarter valued at approximately $368,000. Russell Investments Group Ltd. lifted its holdings in shares of Stepan by 137.5% in the second quarter. Russell Investments Group Ltd. now owns 29,592 shares of the basic materials company’s stock valued at $2,578,000 after purchasing an additional 17,132 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Stepan by 3.2% in the second quarter. Renaissance Technologies LLC now owns 320,200 shares of the basic materials company’s stock valued at $27,902,000 after purchasing an additional 9,900 shares in the last quarter. 63.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Stepan Company (NYSE:SCL) traded up $1.62 during trading on Monday, reaching $79.84. The company had a trading volume of 323,800 shares, compared to its average volume of 74,496. The company has a market capitalization of $1,798.24, a price-to-earnings ratio of 19.38 and a beta of 1.29. Stepan Company has a 1-year low of $68.51 and a 1-year high of $92.97. The company has a quick ratio of 2.08, a current ratio of 2.64 and a debt-to-equity ratio of 0.38.
Stepan (NYSE:SCL) last issued its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.17). The business had revenue of $487.81 million for the quarter, compared to the consensus estimate of $469.75 million. Stepan had a return on equity of 13.98% and a net margin of 4.81%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. research analysts anticipate that Stepan Company will post 4.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a dividend of $0.225 per share. This is a positive change from Stepan’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, November 29th. Stepan’s dividend payout ratio (DPR) is 23.32%.
In related news, VP Debra Stefaniak sold 818 shares of Stepan stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $82.66, for a total transaction of $67,615.88. Following the sale, the vice president now directly owns 6,616 shares in the company, valued at $546,878.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Arthur W. Mergner sold 1,000 shares of Stepan 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 sale, the vice president now owns 2,960 shares in the company, valued at $240,233.60. The disclosure for this sale can be found here. Insiders have sold 2,650 shares of company stock worth $215,793 over the last quarter. 13.10% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on SCL. National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $27.00 to $35.00 in a report on Wednesday, October 11th. Zacks Investment Research lowered Stepan from a “hold” rating to a “sell” rating in a report on Friday, October 20th. TD Securities restated a “buy” rating and issued a $33.00 target price on shares of Stepan in a report on Sunday, September 24th. Scotiabank upgraded Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 target price on the stock in a report on Tuesday, November 14th. Finally, KeyCorp restated a “hold” rating on shares of Stepan in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Stepan presently has an average rating of “Hold” and an average target price of $35.60.
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.
Receive News & Ratings for Stepan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stepan and related companies with Analyst Ratings Network's FREE daily email newsletter.