Penn Capital Management Company LLC lifted its stake in Stepan Company (NYSE:SCL – Free Report) by 30.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,552 shares of the basic materials company’s stock after buying an additional 11,896 shares during the period. Penn Capital Management Company LLC owned approximately 0.23% of Stepan worth $2,872,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Stepan during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. boosted its holdings in Stepan by 86.9% in the 4th quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 265 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 351 shares during the period. Allworth Financial LP acquired a new stake in Stepan in the second quarter valued at approximately $33,000. Finally, Parallel Advisors LLC grew its position in Stepan by 700.0% in the fourth quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.
Stepan Price Performance
Shares of NYSE SCL opened at $62.44 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. Stepan Company has a fifty-two week low of $41.82 and a fifty-two week high of $68.00. The business has a 50 day moving average price of $60.04 and a two-hundred day moving average price of $55.04. The firm has a market cap of $1.42 billion, a PE ratio of -520.33 and a beta of 0.94.
Stepan Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 is Tuesday, September 1st. Stepan’s payout ratio is -1,316.67%.
Wall Street Analyst Weigh In
SCL has been the topic of a number of recent research reports. Seaport Research Partners reissued a “buy” rating and set a $85.00 target price on shares of Stepan in a research report on Friday, August 7th. Weiss Ratings raised shares of Stepan from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Stepan from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Stepan has a consensus rating of “Reduce”.
View 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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