Stepan Company (SCL) Position Increased by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System grew its holdings in shares of Stepan Company (NYSE:SCL) by 26.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,149 shares of the basic materials company’s stock after purchasing an additional 2,786 shares during the period. State Board of Administration of Florida Retirement System owned 0.06% of Stepan worth $1,100,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Advisor Group Inc. raised its holdings in shares of Stepan by 455.2% during the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 965 shares during the period. Acrospire Investment Management LLC raised its holdings in shares of Stepan by 224.9% during the second quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 1,100 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Stepan by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,254 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 337 shares during the period. Amalgamated Bank raised its holdings in shares of Stepan by 3.9% during the second quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 104 shares during the period. Finally, Suntrust Banks Inc. raised its holdings in shares of Stepan by 4.7% during the second quarter. Suntrust Banks Inc. now owns 3,275 shares of the basic materials company’s stock worth $285,000 after purchasing an additional 146 shares during the period. 61.91% of the stock is currently owned by institutional investors.
Stepan Company (NYSE:SCL) opened at $80.22 on Friday. The company has a market cap of $1,806.80, a PE ratio of 19.47 and a beta of 1.28. 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 Company has a 12-month low of $68.51 and a 12-month high of $92.97.
Stepan (NYSE:SCL) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.17). The firm 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 firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.06 EPS. research 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 given a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.12%. This is a positive change from Stepan’s previous quarterly dividend of $0.21. Stepan’s dividend payout ratio is currently 21.24%.
In other news, VP Arthur W. Mergner sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $81.16, for a total transaction of $81,160.00. Following the completion of the transaction, the vice president now owns 2,960 shares in the company, valued at $240,233.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott R. Behrens sold 667 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $77.64, for a total transaction of $51,785.88. Following the transaction, the vice president now owns 3,266 shares of the company’s stock, valued at approximately $253,572.24. The disclosure for this sale can be found here. Insiders have sold 6,371 shares of company stock valued at $509,657 in the last 90 days. Insiders own 13.10% of the company’s stock.
A number of analysts have weighed in on SCL shares. KeyCorp reissued a “hold” rating on shares of Stepan in a report on Friday, September 1st. Zacks Investment Research cut shares of Stepan from a “hold” rating to a “sell” rating in a report on Friday, October 20th. National Bank Financial raised shares of Stepan from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $27.00 to $35.00 in a report on Wednesday, October 11th. Wellington Shields cut shares of Stepan from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, BMO Capital Markets dropped their target price 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 given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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.
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