Stepan Co. (SCL) Releases Earnings Results, Beats Estimates By $0.11 EPS
Stepan Co. (NYSE:SCL) issued its quarterly earnings results on Tuesday. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The company had revenue of $445.03 million for 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 quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share.
Stepan (NYSE:SCL) traded down 0.57% on Wednesday, reaching $74.95. The company had a trading volume of 97,601 shares. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.41 and a beta of 1.17. Stepan has a 12 month low of $41.42 and a 12 month high of $77.62. The company’s 50 day moving average price is $71.57 and its 200-day moving average price is $63.82.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.205 per share. This is a positive change from Stepan’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, November 28th. Stepan’s payout ratio is presently 18.67%.
A number of research analysts have recently commented on SCL shares. National Bank Financial raised Stepan from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $32.00 to $37.00 in a report on Monday, August 15th. Zacks Investment Research raised Stepan from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, July 8th. TD Securities lowered their price target on Stepan from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Finally, Seaport Global Securities raised their price target 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 given a buy rating to the company. Stepan has an average rating of “Hold” and a consensus target price of $48.60.
In related news, VP Frank Pacholec sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $68.00, for a total value of $68,000.00. Following the sale, the vice president now owns 54,489 shares of the company’s stock, valued at approximately $3,705,252. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory Servatius sold 5,438 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $66.54, for a total value of $361,844.52. Following the completion of the sale, the vice president now directly owns 18,293 shares in the company, valued at approximately $1,217,216.22. The disclosure for this sale can be found here. Insiders own 14.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Foundry Partners LLC bought a new stake in shares of Stepan during the second quarter valued at approximately $6,704,000. Vanguard Group Inc. raised its stake in shares of Stepan by 5.5% in the second quarter. Vanguard Group Inc. now owns 1,880,554 shares of the company’s stock valued at $111,951,000 after buying an additional 98,079 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Stepan by 19.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 578,114 shares of the company’s stock valued at $31,964,000 after buying an additional 93,432 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Stepan by 126.7% in the second quarter. JPMorgan Chase & Co. now owns 140,378 shares of the company’s stock valued at $8,357,000 after buying an additional 78,442 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Stepan by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,030,940 shares of the company’s stock valued at $61,371,000 after buying an additional 65,529 shares in the last quarter. 59.68% of the stock is currently owned by institutional investors and hedge funds.
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.
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