Ieq Capital LLC Makes New $1.83 Million Investment in Stepan Company $SCL

Ieq Capital LLC bought a new position in shares of Stepan Company (NYSE:SCL) during the second quarter, HoldingsChannel.com reports. The firm bought 32,914 shares of the basic materials company’s stock, valued at approximately $1,834,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in shares of Stepan by 206.5% in the second quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 351 shares during the period. 1620 Investment Advisors Inc. raised its holdings in shares of Stepan by 86.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock worth $27,000 after buying an additional 265 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Stepan during the 2nd quarter worth $33,000. Parallel Advisors LLC lifted its position in shares of Stepan by 700.0% during the 4th quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock worth $33,000 after buying an additional 602 shares during the last quarter. Finally, Quarry LP acquired a new stake in Stepan in the third quarter valued at about $34,000. Institutional investors own 82.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SCL has been the subject of a number of research reports. Zacks Research raised shares of Stepan from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Stepan from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Seaport Research Partners reiterated a “buy” rating and set a $85.00 price target on shares of Stepan in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Stepan Trading Down 0.2%

NYSE:SCL opened at $62.01 on Wednesday. The firm’s fifty day moving average is $59.52 and its 200-day moving average is $54.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 1.15. Stepan Company has a 52 week low of $41.82 and a 52 week high of $68.00. The firm has a market cap of $1.41 billion, a P/E ratio of -516.71 and a beta of 0.94.

Stepan (NYSE:SCL) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.57. The business had revenue of $684.11 million during the quarter, compared to the consensus estimate of $635.85 million. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. Stepan’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Equities analysts expect that Stepan Company will post 2.69 earnings per share for the current year.

Stepan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Stepan’s payout ratio is currently -1,316.67%.

Stepan Profile

Stepan Company is a global manufacturer of specialty and intermediate chemicals, primarily known for its development and production of surfactants and related specialty products. The company’s portfolio includes a wide range of ingredients used to enhance the performance of consumer and industrial formulations, such as emulsifiers, foam control agents, odor control agents, antimicrobial products and performance additives. These products are integral components in cleaning solutions, personal care items, agrochemical formulations, coatings, oilfield treatments and polymer systems.

Serving a diverse set of end-markets, Stepan’s offerings address both consumer-facing and industrial applications.