Cresset Asset Management LLC Purchases 23,248 Shares of Stepan Company $SCL

Cresset Asset Management LLC lifted its position in shares of Stepan Company (NYSE:SCL) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,294 shares of the basic materials company’s stock after purchasing an additional 23,248 shares during the quarter. Cresset Asset Management LLC’s holdings in Stepan were worth $10,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its position in Stepan by 8.4% in the third quarter. American Century Companies Inc. now owns 586,473 shares of the basic materials company’s stock worth $27,975,000 after purchasing an additional 45,520 shares during the period. Intech Investment Management LLC raised its stake in shares of Stepan by 3.8% in the 3rd quarter. Intech Investment Management LLC now owns 15,833 shares of the basic materials company’s stock valued at $755,000 after buying an additional 576 shares in the last quarter. Semanteon Capital Management LP bought a new position in shares of Stepan during the 3rd quarter worth about $566,000. CenterBook Partners LP lifted its holdings in shares of Stepan by 2.5% during the 3rd quarter. CenterBook Partners LP now owns 100,732 shares of the basic materials company’s stock worth $4,805,000 after acquiring an additional 2,434 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of Stepan by 196.8% during the 3rd quarter. GSA Capital Partners LLP now owns 11,026 shares of the basic materials company’s stock valued at $526,000 after acquiring an additional 7,311 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Stepan Stock Down 2.0%

Shares of NYSE:SCL opened at $48.81 on Friday. The company’s fifty day moving average is $55.25 and its 200-day moving average is $49.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.29. Stepan Company has a 52 week low of $41.82 and a 52 week high of $68.00. The company has a market capitalization of $1.11 billion, a PE ratio of 23.81 and a beta of 1.05.

Stepan (NYSE:SCL) last released its quarterly earnings results on Monday, February 23rd. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.37). The firm had revenue of $553.89 million during the quarter, compared to analyst estimates of $570.60 million. Stepan had a net margin of 2.01% and a return on equity of 3.38%. Stepan’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. Equities research analysts predict that Stepan Company will post 3.55 earnings per share for the current fiscal year.

Stepan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, March 2nd will be given a dividend of $0.395 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.58 dividend on an annualized basis and a yield of 3.2%. Stepan’s dividend payout ratio is 77.07%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Stepan from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Stepan presently has an average rating of “Hold”.

About Stepan

Stepan Company is a global manufacturer of specialty and intermediate chemicals, primarily known for its development and production of surfactants and related specialty products. The company’s portfolio includes a wide range of ingredients used to enhance the performance of consumer and industrial formulations, such as emulsifiers, foam control agents, odor control agents, antimicrobial products and performance additives. These products are integral components in cleaning solutions, personal care items, agrochemical formulations, coatings, oilfield treatments and polymer systems.

Serving a diverse set of end-markets, Stepan’s offerings address both consumer-facing and industrial applications.