Southernsun Asset Management LLC lessened its holdings in shares of Stepan Company (NYSE:SCL – Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,799 shares of the basic materials company’s stock after selling 28,968 shares during the quarter. Stepan makes up 2.7% of Southernsun Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Southernsun Asset Management LLC’s holdings in Stepan were worth $18,932,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. 1620 Investment Advisors Inc. lifted its position in shares of Stepan by 86.9% in the fourth quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 265 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Stepan by 206.5% during the second quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. Parallel Advisors LLC increased its stake in Stepan by 700.0% in the 4th quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock valued at $33,000 after buying an additional 602 shares during the period. Quarry LP acquired a new position in Stepan in the 3rd quarter valued at approximately $34,000. Finally, Danske Bank A S purchased a new stake in Stepan in the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 82.70% of the company’s stock.
Stepan Trading Up 1.5%
NYSE:SCL opened at $58.57 on Wednesday. The company has a market capitalization of $1.33 billion, a P/E ratio of -94.47 and a beta of 0.95. The stock’s 50 day moving average price is $54.05 and its 200 day moving average price is $53.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.26. Stepan Company has a 52 week low of $41.82 and a 52 week high of $68.00.
Stepan Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, June 1st. Stepan’s payout ratio is presently -254.84%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Stepan from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Zacks Research raised Stepan from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Stepan currently has a consensus rating of “Reduce”.
Check Out Our Latest Stock Analysis on Stepan
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.
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