Rhumbline Advisers Raises Holdings in Stepan (SCL)
Rhumbline Advisers boosted its position in shares of Stepan (NYSE:SCL) by 1.7% in the first quarter, HoldingsChannel.com reports. The fund owned 65,838 shares of the basic materials company’s stock after acquiring an additional 1,100 shares during the quarter. Rhumbline Advisers’ holdings in Stepan were worth $5,762,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Burney Co. lifted its holdings in shares of Stepan by 9.7% in the 4th quarter. Burney Co. now owns 6,754 shares of the basic materials company’s stock valued at $500,000 after buying an additional 600 shares during the period. Norges Bank acquired a new position in shares of Stepan in the 4th quarter valued at about $35,800,000. Principal Financial Group Inc. lifted its holdings in shares of Stepan by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 174,914 shares of the basic materials company’s stock valued at $12,944,000 after buying an additional 2,326 shares during the period. Bank of Montreal Can lifted its holdings in shares of Stepan by 13.2% in the 4th quarter. Bank of Montreal Can now owns 49,384 shares of the basic materials company’s stock valued at $3,654,000 after buying an additional 5,754 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Stepan by 3.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 21,404 shares of the basic materials company’s stock valued at $1,584,000 after buying an additional 744 shares during the period. 69.99% of the stock is owned by institutional investors.
Shares of SCL stock opened at $85.54 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of 17.53 and a beta of 1.27. The company has a quick ratio of 2.01, a current ratio of 2.74 and a debt-to-equity ratio of 0.32. Stepan has a 52-week low of $69.17 and a 52-week high of $95.32.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Stepan’s dividend payout ratio (DPR) is presently 20.49%.
In related news, Chairman F Quinn Stepan, Jr. sold 12,889 shares of Stepan stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $93.83, for a total value of $1,209,374.87. Following the completion of the transaction, the chairman now owns 202,576 shares in the company, valued at approximately $19,007,706.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luis Rojo purchased 300 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $86.64 per share, with a total value of $25,992.00. Following the purchase, the chief financial officer now owns 1,900 shares in the company, valued at $164,616. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,500 shares of company stock valued at $133,021 and sold 20,128 shares valued at $1,865,444. 11.40% of the stock is owned by insiders.
SCL has been the subject of several analyst reports. ValuEngine raised Stepan from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research cut Stepan from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $79.50.
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Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
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