Grace & White Inc. NY Boosts Position in Stepan Company $SCL

Grace & White Inc. NY raised its holdings in shares of Stepan Company (NYSE:SCL) by 7.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 139,013 shares of the basic materials company’s stock after acquiring an additional 9,900 shares during the quarter. Stepan accounts for about 1.2% of Grace & White Inc. NY’s investment portfolio, making the stock its 25th largest holding. Grace & White Inc. NY’s holdings in Stepan were worth $6,948,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. 1620 Investment Advisors Inc. increased its position in shares of Stepan by 86.9% in the fourth quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 265 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Stepan by 206.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 351 shares in the last quarter. Parallel Advisors LLC boosted its position in Stepan by 700.0% during the 4th quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 602 shares during the period. Quarry LP purchased a new stake in Stepan during the 3rd quarter worth $34,000. Finally, Danske Bank A S acquired a new stake in Stepan in the 3rd quarter valued at $43,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Stepan Trading Up 0.3%

SCL opened at $55.59 on Friday. The firm’s 50 day moving average is $52.15 and its 200-day moving average is $52.10. Stepan Company has a 52-week low of $41.82 and a 52-week high of $68.00. The company has a quick ratio of 0.86, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.26 billion, a P/E ratio of -89.66 and a beta of 0.96.

Stepan (NYSE:SCL) last announced its earnings results on Tuesday, April 28th. The basic materials company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.06. The business had revenue of $604.51 million during the quarter, compared to the consensus estimate of $612.25 million. Stepan had a negative net margin of 0.61% and a positive return on equity of 2.65%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Analysts expect that Stepan Company will post 2.35 EPS for the current fiscal year.

Stepan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 1st. Stepan’s dividend payout ratio is presently -254.84%.

Wall Street Analysts Forecast Growth

SCL has been the topic of several research reports. Zacks Research lowered Stepan from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Weiss Ratings downgraded Stepan from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Stepan Profile

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.