Nordea Investment Management AB Takes Position in Stepan Company (SCL)
Nordea Investment Management AB bought a new position in Stepan Company (NYSE:SCL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,900 shares of the basic materials company’s stock, valued at approximately $2,083,000. Nordea Investment Management AB owned about 0.11% of Stepan as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Stepan during the first quarter worth $134,000. Acrospire Investment Management LLC lifted its holdings in shares of Stepan by 224.9% during the second 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. lifted its holdings in shares of Stepan by 28.8% during the first 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. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Stepan during the first quarter valued at $202,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Stepan during the first quarter valued at $236,000. Institutional investors and hedge funds own 62.53% of the company’s stock.
Shares of Stepan Company (SCL) opened at 86.02 on Tuesday. Stepan Company has a 52 week low of $67.85 and a 52 week high of $92.97. The firm has a market capitalization of $1.94 billion, a P/E ratio of 22.40 and a beta of 1.28. The firm’s 50-day moving average is $79.71 and its 200 day moving average is $82.79.
Stepan (NYSE:SCL) last issued its earnings results on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.02). The company had revenue of $495.10 million for the quarter, compared to the consensus estimate of $472.35 million. Stepan had a return on equity of 14.95% and a net margin of 4.85%. Stepan’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.31 EPS. Equities research analysts forecast that Stepan Company will post $4.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.95%. Stepan’s dividend payout ratio is 21.52%.
A number of equities analysts recently weighed in on SCL shares. BidaskClub raised Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research downgraded Stepan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. Wellington Shields lowered shares of Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. National Bank Financial reduced their price objective on shares of Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, June 26th. Finally, TD Securities reiterated a “buy” rating and issued a $33.00 target price on shares of Stepan in a report on Sunday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $46.80.
In other Stepan news, Chairman F Quinn Stepan, Jr. sold 15,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $79.27, for a total value of $1,189,050.00. Following the completion of the sale, the chairman now directly owns 151,864 shares in the company, valued at $12,038,259.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director F Quinn Stepan sold 8,865 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.50, for a total value of $713,632.50. Following the completion of the sale, the director now owns 287,962 shares of the company’s stock, valued at $23,180,941. The disclosure for this sale can be found here. Insiders sold a total of 29,404 shares of company stock worth $2,343,492 over the last quarter. 13.10% of the stock is currently owned by corporate insiders.
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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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