Stepan Co. (SCL) Stake Held by New York State Teachers Retirement System
New York State Teachers Retirement System maintained its position in Stepan Co. (NYSE:SCL) during the second quarter, Holdings Channel reports. The fund owned 40,885 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Stepan were worth $2,434,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SCL. Cypress Wealth Advisors LLC acquired a new position in shares of Stepan during the first quarter valued at about $202,000. Royal Bank of Canada boosted its position in shares of Stepan by 4.2% in the first quarter. Royal Bank of Canada now owns 4,899 shares of the company’s stock valued at $271,000 after buying an additional 199 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Stepan by 115.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,035 shares of the company’s stock valued at $359,000 after buying an additional 3,228 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in shares of Stepan during the first quarter valued at about $347,000. Finally, Capstone Asset Management Co. boosted its position in shares of Stepan by 1.0% in the second quarter. Capstone Asset Management Co. now owns 7,333 shares of the company’s stock valued at $437,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 59.84% of the company’s stock.
Shares of Stepan Co. (NYSE:SCL) traded down 1.08% during trading on Friday, hitting $70.77. 113,211 shares of the company traded hands. The company has a 50-day moving average of $71.42 and a 200-day moving average of $63.46. Stepan Co. has a 52-week low of $41.42 and a 52-week high of $74.25. The stock has a market capitalization of $1.58 billion, a PE ratio of 17.38 and a beta of 1.17.
Stepan (NYSE:SCL) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.14. The firm had revenue of $454.60 million for the quarter, compared to analyst estimates of $453.45 million. Stepan had a net margin of 5.29% and a return on equity of 16.78%. Stepan’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities analysts expect that Stepan Co. will post ($0.38) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, August 29th. Stepan’s dividend payout ratio is currently 18.67%.
Several research firms have commented on SCL. Seaport Global Securities increased their price target on shares of Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, August 24th. TD Securities decreased their price target 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. National Bank Financial raised shares of Stepan from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $32.00 to $37.00 in a research report on Monday, August 15th. Finally, Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, July 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Stepan currently has an average rating of “Hold” and an average price target of $48.60.
In other Stepan news, VP Frank Pacholec sold 1,500 shares of Stepan stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $72.00, for a total value of $108,000.00. Following the completion of the transaction, the vice president now directly owns 51,489 shares of the company’s stock, valued at approximately $3,707,208. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO F Quinn Stepan, Jr. sold 32,000 shares of Stepan 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 transaction, the chief executive officer now directly owns 157,247 shares of the company’s stock, valued at $9,978,894.62. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.
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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