Quantum Capital Management LLC NJ Sells 1,718 Shares of Stepan Company (SCL)
Quantum Capital Management LLC NJ cut its stake in Stepan Company (NYSE:SCL) by 30.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the basic materials company’s stock after selling 1,718 shares during the quarter. Quantum Capital Management LLC NJ’s holdings in Stepan were worth $349,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Stepan by 52,898.2% in the first quarter. BlackRock Inc. now owns 2,525,895 shares of the basic materials company’s stock valued at $199,067,000 after purchasing an additional 2,521,129 shares in the last quarter. Vanguard Group Inc. boosted its stake in Stepan by 6.3% during the first quarter. Vanguard Group Inc. now owns 2,139,078 shares of the basic materials company’s stock valued at $168,580,000 after buying an additional 126,830 shares during the period. Dimensional Fund Advisors LP boosted its stake in Stepan by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,054,944 shares of the basic materials company’s stock valued at $83,139,000 after buying an additional 5,559 shares during the period. State Street Corp boosted its stake in Stepan by 3.8% during the first quarter. State Street Corp now owns 487,206 shares of the basic materials company’s stock valued at $38,400,000 after buying an additional 17,784 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Stepan by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 399,280 shares of the basic materials company’s stock valued at $31,466,000 after buying an additional 21,345 shares during the period. Institutional investors own 62.56% of the company’s stock.
SCL has been the subject of several research analyst reports. BMO Capital Markets dropped their price objective on Stepan from $42.00 to $36.00 in a research note on Monday, August 14th. BidaskClub raised Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. ValuEngine raised Stepan from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. KeyCorp reissued a “hold” rating on shares of Stepan in a research note on Friday, September 1st. Finally, Wellington Shields lowered Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.40.
In other Stepan news, Chairman F Quinn Stepan, Jr. sold 15,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $79.27, for a total value of $1,189,050.00. Following the completion of the sale, the chairman now owns 151,864 shares in the company, valued at approximately $12,038,259.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director F Quinn Stepan sold 8,865 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $80.50, for a total value of $713,632.50. Following the completion of the sale, the director now owns 287,962 shares of the company’s stock, valued at approximately $23,180,941. The disclosure for this sale can be found here. Insiders sold a total of 27,904 shares of company stock valued at $2,221,092 over the last 90 days. 13.10% of the stock is currently owned by company insiders.
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Stepan Company (NYSE SCL) traded down 0.106% during midday trading on Thursday, reaching $80.405. The company had a trading volume of 4,498 shares. Stepan Company has a 52 week low of $67.85 and a 52 week high of $92.97. The firm has a 50-day moving average price of $79.53 and a 200-day moving average price of $82.26. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 20.933 and a beta of 1.26.
Stepan (NYSE:SCL) last posted its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.02). The company had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $472.35 million. Stepan had a return on equity of 14.95% and a net margin of 4.85%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. Analysts expect that Stepan Company will post $4.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.205 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.02%. Stepan’s dividend payout ratio (DPR) is 21.52%.
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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