Allianz Asset Management GmbH reduced its holdings in shares of Stepan Company (NYSE:SCL) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,179 shares of the basic materials company’s stock after selling 25,056 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.36% of Stepan worth $25,531,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. OxFORD Asset Management LLP increased its holdings in Stepan by 71.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 5,612 shares of the basic materials company’s stock valued at $470,000 after acquiring an additional 2,333 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Stepan by 2.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,039,062 shares of the basic materials company’s stock valued at $86,928,000 after acquiring an additional 27,413 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Stepan by 4.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 153,213 shares of the basic materials company’s stock valued at $12,818,000 after acquiring an additional 5,892 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Stepan by 384.9% during the 3rd quarter. Wells Fargo & Company MN now owns 89,024 shares of the basic materials company’s stock valued at $7,448,000 after acquiring an additional 70,664 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Stepan by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 97,933 shares of the basic materials company’s stock valued at $8,224,000 after acquiring an additional 24,579 shares in the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
In related news, VP Arthur W. Mergner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $81.16, for a total value of $81,160.00. Following the completion of the sale, the vice president now directly owns 2,960 shares in the company, valued at $240,233.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Debra Stefaniak sold 818 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $82.66, for a total transaction of $67,615.88. Following the completion of the sale, the vice president now owns 6,616 shares of the company’s stock, valued at $546,878.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,150 shares of company stock valued at $338,193. Insiders own 13.10% of the company’s stock.
Several equities analysts have weighed in on SCL shares. KeyCorp restated a “hold” rating on shares of Stepan in a report on Friday, September 1st. Scotiabank upgraded shares of Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 target price for the company in a report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Stepan from a “hold” rating to a “sell” rating in a report on Friday, October 20th. National Bank Financial upgraded shares of Stepan from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $35.00 in a report on Wednesday, October 11th. Finally, BMO Capital Markets lowered their price target on shares of Stepan from $42.00 to $36.00 in a report on Monday, August 14th. 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.60.
Shares of Stepan Company (NYSE SCL) traded down $0.68 during midday trading on Monday, hitting $77.85. 56,900 shares of the stock were exchanged, compared to its average volume of 73,414. The stock has a market capitalization of $1,753.38, a P/E ratio of 18.90 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 current ratio of 2.64, a quick ratio of 2.08 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 analysts’ consensus estimates of $1.09 by ($0.17). The firm had revenue of $487.81 million for the quarter, compared to analysts’ expectations of $469.75 million. Stepan had a return on equity of 13.98% and a net margin of 4.81%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. analysts expect that Stepan Company will post 4.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 29th. This is an increase from Stepan’s previous quarterly dividend of $0.21. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.16%. Stepan’s payout ratio is 23.32%.
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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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