Atlanta Capital Management Co. L L C cut its holdings in Stepan Company (NYSE:SCL) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,413 shares of the basic materials company’s stock after selling 9,540 shares during the quarter. Atlanta Capital Management Co. L L C owned approximately 1.05% of Stepan worth $20,688,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Advisor Group Inc. grew its position in Stepan by 455.2% during the 2nd quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 965 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Stepan during the 1st quarter valued at about $134,000. Acrospire Investment Management LLC grew its position in Stepan by 224.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,589 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 1,100 shares during the last quarter. Victory Capital Management Inc. grew its position in Stepan by 28.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 429 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Stepan during the 1st quarter valued at about $202,000. 62.53% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on SCL. Zacks Investment Research downgraded shares of Stepan from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Stepan from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. National Bank Financial cut their price objective on shares of Stepan from $40.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Monday, June 26th. TD Securities reissued a “buy” rating and set a $33.00 price objective on shares of Stepan in a research report on Sunday, September 24th. Finally, BMO Capital Markets cut their price objective on shares of Stepan from $42.00 to $36.00 in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Stepan has an average rating of “Hold” and an average target price of $34.25.
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In other news, Director F Quinn Stepan sold 8,865 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.50, for a total transaction of $713,632.50. Following the sale, the director now owns 287,962 shares in the company, valued at $23,180,941. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank Pacholec sold 1,500 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $81.60, for a total value of $122,400.00. Following the sale, the vice president now owns 48,597 shares in the company, valued at approximately $3,965,515.20. The disclosure for this sale can be found here. Insiders sold 29,404 shares of company stock worth $2,343,492 in the last quarter. 13.10% of the stock is owned by insiders.
Shares of Stepan Company (SCL) traded up 0.16% during mid-day trading on Wednesday, reaching $87.79. 5,601 shares of the company traded hands. The stock has a market capitalization of $1.98 billion, a PE ratio of 22.86 and a beta of 1.28. Stepan Company has a 52 week low of $67.85 and a 52 week high of $92.97. The firm has a 50 day moving average of $81.26 and a 200-day moving average of $83.16.
Stepan (NYSE:SCL) last posted its earnings results on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). Stepan had a net margin of 4.85% and a return on equity of 14.95%. The company had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $472.35 million. During the same quarter last year, the firm earned $1.31 EPS. Stepan’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Stepan Company will post $4.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.205 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.82 annualized dividend and a yield of 0.94%. Stepan’s dividend payout ratio (DPR) is presently 21.52%.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.
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