GSA Capital Partners LLP bought a new stake in shares of Stepan Company (NYSE:SCL – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 19,292 shares of the basic materials company’s stock, valued at approximately $1,075,000.
Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in Stepan by 206.5% in the 2nd 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 in the last quarter. 1620 Investment Advisors Inc. lifted its position in Stepan by 86.9% during the fourth quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. Parallel Advisors LLC lifted its holdings 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 valued at $33,000 after buying an additional 602 shares during the period. Quarry LP purchased a new position in shares of Stepan in the 3rd quarter worth $34,000. Finally, Danske Bank A S bought a new stake in shares of Stepan in the third quarter worth $43,000. 82.70% of the stock is owned by institutional investors.
Stepan Stock Down 0.8%
Shares of SCL opened at $64.63 on Tuesday. The business’s 50 day moving average is $58.35 and its 200 day moving average is $54.80. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. Stepan Company has a 12-month low of $41.82 and a 12-month high of $68.00. The company has a market capitalization of $1.47 billion, a PE ratio of -538.58 and a beta of 0.94.
Stepan Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.395 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.58 dividend on an annualized basis and a dividend yield of 2.4%. Stepan’s dividend payout ratio is currently -1,316.67%.
Analysts Set New Price Targets
A number of analysts recently commented on SCL shares. Zacks Research upgraded Stepan from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Seaport Research Partners reissued a “buy” rating and issued a $85.00 target price on shares of Stepan in a research report on Friday, August 7th. Weiss Ratings upgraded Stepan from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Stepan from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.
Read Our Latest Report on Stepan
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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