Foundry Partners LLC Decreases Position in Stepan Co. (SCL)
Foundry Partners LLC reduced its stake in shares of Stepan Co. (NYSE:SCL) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,408 shares of the company’s stock after selling 33,214 shares during the period. Foundry Partners LLC owned about 0.36% of Stepan worth $5,770,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Societe Generale acquired a new stake in Stepan during the second quarter valued at about $125,000. SG Americas Securities LLC acquired a new stake in Stepan during the second quarter valued at about $125,000. PineBridge Investments L.P. raised its stake in Stepan by 3.9% in the second quarter. PineBridge Investments L.P. now owns 2,321 shares of the company’s stock valued at $138,000 after buying an additional 88 shares during the period. Teacher Retirement System of Texas raised its stake in Stepan by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,791 shares of the company’s stock valued at $166,000 after buying an additional 342 shares during the period. Finally, Quantum Capital Management LLC NJ acquired a new stake in Stepan during the second quarter valued at about $200,000. 60.85% of the stock is currently owned by institutional investors.
Shares of Stepan Co. (NYSE:SCL) traded down 0.98% on Friday, reaching $77.74. 99,798 shares of the company’s stock traded hands. The stock has a 50-day moving average of $72.02 and a 200 day moving average of $65.55. Stepan Co. has a 12-month low of $41.42 and a 12-month high of $78.85. The firm has a market cap of $1.74 billion, a P/E ratio of 20.08 and a beta of 1.13.
Stepan (NYSE:SCL) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. Stepan had a net margin of 5.03% and a return on equity of 16.74%. The business earned $445.03 million during the quarter, compared to analyst estimates of $444.65 million. During the same period last year, the firm posted $0.92 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Stepan Co. will post $4.35 earnings per share for the current year.
The firm 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 $0.205 dividend. The ex-dividend date is Monday, November 28th. 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 dividend yield of 1.05%. Stepan’s dividend payout ratio (DPR) is 19.64%.
SCL has been the topic of several research reports. TD Securities lowered their price target on shares of Stepan from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Zacks Investment Research lowered shares of Stepan from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Seaport Global Securities boosted their price target on shares of Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, August 24th. Finally, National Bank Financial upgraded shares of Stepan from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $32.00 to $37.00 in a report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $49.00.
In related news, VP Gregory Servatius sold 4,832 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $74.86, for a total value of $361,723.52. Following the completion of the transaction, the vice president now directly owns 19,343 shares of the company’s stock, valued at $1,448,016.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Arthur W. Mergner sold 2,438 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $69.82, for a total transaction of $170,221.16. Following the completion of the transaction, the vice president now directly owns 7,438 shares of the company’s stock, valued at $519,321.16. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by corporate insiders.
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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