Stepan Co. (SCL) VP Gregory Servatius Sells 4,832 Shares
Stepan Co. (NYSE:SCL) VP Gregory Servatius sold 4,832 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $74.86, for a total value of $361,723.52. Following the transaction, the vice president now owns 19,343 shares in the company, valued at approximately $1,448,016.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Stepan Co. (NYSE:SCL) opened at 78.10 on Tuesday. The firm has a market cap of $1.75 billion, a PE ratio of 20.17 and a beta of 1.13. Stepan Co. has a 52 week low of $41.42 and a 52 week high of $78.93. The firm’s 50-day moving average price is $72.02 and its 200 day moving average price is $65.55.
Stepan (NYSE:SCL) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.11. Stepan had a net margin of 5.03% and a return on equity of 16.74%. The business had revenue of $445.03 million for the quarter, compared to the consensus estimate of $444.65 million. During the same period in the prior year, the business posted $0.92 earnings per share. Stepan’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Stepan Co. will post $4.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.205 dividend. The ex-dividend date is Monday, November 28th. This is an increase from Stepan’s previous quarterly dividend of $0.19. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.05%. Stepan’s dividend payout ratio is 19.64%.
Several research analysts recently commented on SCL shares. Zacks Investment Research cut Stepan from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $32.00 to $37.00 in a research note on Monday, August 15th. TD Securities reiterated a “buy” rating and issued a $39.00 price target on shares of Stepan in a research note on Thursday, November 10th. Finally, Seaport Global Securities boosted their price target on Stepan from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $49.00.
Several institutional investors have recently bought and sold shares of SCL. Victory Capital Management Inc. increased its position in Stepan by 12.2% in the third quarter. Victory Capital Management Inc. now owns 1,523 shares of the company’s stock worth $111,000 after buying an additional 166 shares during the period. Societe Generale bought a new position in Stepan during the second quarter worth $125,000. SG Americas Securities LLC bought a new position in Stepan during the second quarter worth $125,000. PineBridge Investments L.P. increased its position in Stepan by 3.9% in the second quarter. PineBridge Investments L.P. now owns 2,321 shares of the company’s stock worth $138,000 after buying an additional 88 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Stepan by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,791 shares of the company’s stock worth $166,000 after buying an additional 342 shares during the period. 60.85% of the stock is currently owned by institutional investors and hedge funds.
Stepan Company Profile
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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