Stepan Co. (SCL) Declares Quarterly Dividend of $0.21
Stepan Co. (NYSE:SCL) announced a quarterly dividend on Tuesday, October 18th. Stockholders of record on Wednesday, November 30th will be paid a dividend of 0.205 per share on Thursday, December 15th. This represents a $0.82 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, November 28th. This is an increase from Stepan’s previous quarterly dividend of $0.19.
Shares of Stepan (NYSE:SCL) traded up 7.47% during midday trading on Tuesday, hitting $75.38. The stock had a trading volume of 207,357 shares. The firm has a 50-day moving average price of $71.43 and a 200-day moving average price of $63.68. Stepan has a 1-year low of $41.42 and a 1-year high of $77.62. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 18.52 and a beta of 1.17.
Stepan (NYSE:SCL) last released its earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $1.15. The company earned $445.03 million during the quarter, compared to analyst estimates of $444.65 million. Stepan had a return on equity of 16.78% and a net margin of 5.29%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. On average, equities analysts anticipate that Stepan will post $4.30 EPS for the current fiscal year.
A number of analysts have recently issued reports on SCL shares. Zacks Investment Research lowered Stepan from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $32.00 to $37.00 in a report on Monday, August 15th. TD Securities reduced their target price on Stepan from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday, August 12th. Finally, Seaport Global Securities increased their target price on Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Stepan presently has a consensus rating of “Hold” and a consensus target price of $48.60.
In other Stepan news, VP Frank Pacholec sold 1,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $68.00, for a total transaction of $68,000.00. Following the transaction, the vice president now directly owns 54,489 shares of the company’s stock, valued at $3,705,252. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO F Quinn Stepan, Jr. sold 32,000 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $63.46, for a total transaction of $2,030,720.00. Following the transaction, the chief executive officer now directly owns 157,247 shares in the company, valued at $9,978,894.62. The disclosure for this sale can be found here. Corporate insiders own 14.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its position in Stepan by 5.0% in the second quarter. BlackRock Fund Advisors now owns 1,229,033 shares of the company’s stock valued at $73,164,000 after buying an additional 58,545 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Stepan by 10.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 639,048 shares of the company’s stock valued at $38,043,000 after buying an additional 60,934 shares during the last quarter. Atlanta Capital Management Co. L L C increased its position in Stepan by 2.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 303,759 shares of the company’s stock valued at $18,083,000 after buying an additional 5,935 shares during the last quarter. BlackRock Investment Management LLC increased its position in Stepan by 12.2% in the second quarter. BlackRock Investment Management LLC now owns 88,063 shares of the company’s stock valued at $5,242,000 after buying an additional 9,550 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Stepan by 2.6% in the second quarter. Parametric Portfolio Associates LLC now owns 59,281 shares of the company’s stock valued at $3,529,000 after buying an additional 1,500 shares during the last quarter. 59.68% of the stock is currently owned by hedge funds and other institutional investors.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.
Receive News & Stock Ratings for Stepan Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stepan Co. and related stocks with our FREE daily email newsletter.