Odyssean LLC purchased a new position in shares of Stepan Company (NYSE:SCL – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 11,775 shares of the basic materials company’s stock, valued at approximately $656,000.
Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Stepan by 8.3% in the 1st quarter. Royal Bank of Canada now owns 11,211 shares of the basic materials company’s stock valued at $617,000 after purchasing an additional 859 shares in the last quarter. AQR Capital Management LLC purchased a new position in Stepan in the 1st quarter worth $818,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $699,000 after purchasing an additional 555 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Stepan by 4.3% in the first 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 worth $3,649,000 after purchasing an additional 2,707 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Stepan in the second quarter worth $495,000. 82.70% of the stock is currently owned by institutional investors.
Stepan Trading Up 0.9%
Shares of SCL opened at $62.60 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of -521.67 and a beta of 0.94. Stepan Company has a twelve month low of $41.82 and a twelve month high of $68.00. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $59.69 and a two-hundred day simple moving average of $54.99.
Stepan Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 1st. Stepan’s payout ratio is currently -1,316.67%.
Analyst Upgrades and Downgrades
SCL has been the topic of a number of recent research reports. 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 report on Monday, July 6th. Seaport Research Partners restated a “buy” rating and set a $85.00 price target on shares of Stepan in a research report on Friday, August 7th. Finally, Wall Street Zen raised Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Stepan has an average rating of “Reduce”.
View Our Latest Stock Report on Stepan
About Stepan
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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