Public Employees Retirement System of Ohio decreased its position in Stepan Company (NYSE:SCL – Free Report) by 94.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,704 shares of the basic materials company’s stock after selling 27,213 shares during the period. Public Employees Retirement System of Ohio’s holdings in Stepan were worth $85,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in Stepan by 8.3% during the first quarter. Royal Bank of Canada now owns 11,211 shares of the basic materials company’s stock worth $617,000 after purchasing an additional 859 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Stepan in the first quarter valued at about $818,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Stepan by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,701 shares of the basic materials company’s stock valued at $699,000 after purchasing an additional 555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Stepan by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 66,301 shares of the basic materials company’s stock valued at $3,649,000 after purchasing an additional 2,707 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Stepan during the 2nd quarter worth approximately $495,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SCL. Weiss Ratings raised Stepan from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Stepan from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Stepan presently has a consensus rating of “Reduce”.
Stepan Stock Down 0.5%
Shares of NYSE SCL opened at $63.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. Stepan Company has a 52 week low of $41.82 and a 52 week high of $68.00. The firm has a 50-day moving average price of $56.53 and a 200 day moving average price of $54.26. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -532.98 and a beta of 0.94.
Stepan (NYSE:SCL – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.57. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The firm had revenue of $684.11 million for the quarter, compared to the consensus estimate of $635.85 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Stepan Company will post 2.54 EPS for the current fiscal year.
Stepan Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.395 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.58 annualized dividend and a dividend yield of 2.5%. Stepan’s payout ratio is -1,316.67%.
Stepan Company 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.
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