Stepan Co. (SCL) Shares Bought by PineBridge Investments L.P.
PineBridge Investments L.P. raised its position in Stepan Co. (NYSE:SCL) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 2,321 shares of the company’s stock after buying an additional 88 shares during the period. PineBridge Investments L.P.’s holdings in Stepan were worth $138,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Stepan by 0.6% in the first quarter. BlackRock Fund Advisors now owns 1,170,488 shares of the company’s stock worth $64,716,000 after buying an additional 6,952 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Stepan by 19.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 578,114 shares of the company’s stock worth $31,964,000 after buying an additional 93,432 shares during the last quarter. Prudential Financial Inc. boosted its position in Stepan by 1.0% in the second quarter. Prudential Financial Inc. now owns 268,674 shares of the company’s stock worth $15,994,000 after buying an additional 2,670 shares during the last quarter. AXA boosted its position in Stepan by 12.5% in the first quarter. AXA now owns 47,200 shares of the company’s stock worth $2,610,000 after buying an additional 5,260 shares during the last quarter. Finally, SECOR Capital Advisors LP boosted its position in Stepan by 50.7% in the second quarter. SECOR Capital Advisors LP now owns 15,815 shares of the company’s stock worth $941,000 after buying an additional 5,318 shares during the last quarter. Institutional investors and hedge funds own 59.84% of the company’s stock.
Shares of Stepan Co. (NYSE:SCL) opened at 72.82 on Tuesday. The firm’s 50-day moving average is $70.63 and its 200 day moving average is $62.51. The firm has a market capitalization of $1.63 billion, a P/E ratio of 17.89 and a beta of 1.17. Stepan Co. has a 12 month low of $41.42 and a 12 month high of $73.90.
Stepan (NYSE:SCL) last posted its earnings results on Wednesday, July 20th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.14. Stepan had a net margin of 5.29% and a return on equity of 16.78%. The company had revenue of $454.60 million for the quarter, compared to analyst estimates of $453.45 million. During the same quarter in the prior year, the business posted $0.91 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that Stepan Co. will post ($0.38) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. Stepan’s dividend payout ratio is presently 18.67%.
A number of equities analysts recently commented on SCL shares. National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $32.00 to $37.00 in a report on Monday, August 15th. Zacks Investment Research upgraded Stepan from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, July 8th. TD Securities cut their price objective on shares of Stepan from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Finally, Seaport Global Securities raised their price objective on shares of Stepan from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.60.
In other Stepan news, CEO F Quinn Stepan, Jr. sold 32,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $63.46, for a total value of $2,030,720.00. Following the completion of the sale, the chief executive officer now directly owns 157,247 shares of the company’s stock, valued at approximately $9,978,894.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frank Pacholec sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $72.00, for a total transaction of $108,000.00. Following the completion of the sale, the vice president now directly owns 51,489 shares of the company’s stock, valued at $3,707,208. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by corporate insiders.
Stepan Company Profile
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.
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