Stepan (SCL) Expected to Post Q3 2018 Earnings of $1.20 Per Share
Stepan (NYSE:SCL) – Investment analysts at KeyCorp issued their Q3 2018 earnings estimates for shares of Stepan in a note issued to investors on Tuesday. KeyCorp analyst M. Sison expects that the basic materials company will post earnings per share of $1.20 for the quarter.
Other research analysts have also issued reports about the company. National Bank Financial raised their price target on Stepan from $35.00 to $36.00 in a report on Monday, November 13th. TD Securities reissued a “buy” rating and set a $33.00 price target on shares of Stepan in a report on Sunday, September 24th. Zacks Investment Research raised Stepan from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Scotiabank raised Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 price target on the stock in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $35.60.
Stepan (NYSE:SCL) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.17). Stepan had a return on equity of 13.98% and a net margin of 4.81%. The company had revenue of $487.81 million during the quarter, compared to analyst estimates of $469.75 million. During the same period in the prior year, the business earned $1.06 earnings per share. Stepan’s quarterly revenue was up 9.6% on a year-over-year basis.
In related news, VP Frank Pacholec sold 832 shares of Stepan stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $80.55, for a total transaction of $67,017.60. Following the transaction, the vice president now directly owns 49,429 shares of the company’s stock, valued at $3,981,505.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Debra Stefaniak sold 818 shares of Stepan stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $82.66, for a total value of $67,615.88. Following the transaction, the vice president now directly owns 6,616 shares in the company, valued at $546,878.56. The disclosure for this sale can be found here. Insiders have sold 2,650 shares of company stock worth $215,793 over the last three months. Corporate insiders own 13.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its holdings in Stepan by 455.2% during the second quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 965 shares during the period. Victory Capital Management Inc. grew its holdings in Stepan by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,254 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 337 shares during the period. Amalgamated Bank grew its holdings in Stepan by 3.9% during the second quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock worth $240,000 after acquiring an additional 104 shares during the period. Suntrust Banks Inc. grew its holdings in Stepan by 4.7% during the second quarter. Suntrust Banks Inc. now owns 3,275 shares of the basic materials company’s stock worth $285,000 after acquiring an additional 146 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Stepan by 42.0% during the third quarter. Cubist Systematic Strategies LLC now owns 3,759 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 1,111 shares during the period. 63.19% of the stock is currently owned by hedge funds and other institutional investors.
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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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