Shares of Stepan Company (NYSE:SCL – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.53 and traded as high as $50.58. Stepan shares last traded at $50.0950, with a volume of 135,414 shares.
Analysts Set New Price Targets
Several analysts have recently weighed in on SCL shares. Weiss Ratings cut shares of Stepan from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 4th. Zacks Research lowered shares of Stepan from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.
Read Our Latest Stock Analysis on Stepan
Stepan Stock Down 0.0%
Stepan (NYSE:SCL – Get Free Report) last issued 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 business had revenue of $553.89 million for the quarter, compared to the consensus estimate of $570.60 million. Stepan had a net margin of 2.01% and a return on equity of 3.38%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, research analysts anticipate that Stepan Company will post 3.55 EPS for the current fiscal year.
Stepan Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, March 2nd were paid a $0.395 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.58 annualized dividend and a yield of 3.2%. Stepan’s payout ratio is currently 77.07%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Deprince Race & Zollo Inc. lifted its stake in shares of Stepan by 29.5% in the 4th quarter. Deprince Race & Zollo Inc. now owns 900,377 shares of the basic materials company’s stock valued at $42,642,000 after acquiring an additional 205,157 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Stepan by 195.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 299,970 shares of the basic materials company’s stock worth $14,207,000 after purchasing an additional 198,457 shares during the period. Invenomic Capital Management LP bought a new stake in Stepan in the third quarter valued at approximately $8,620,000. Algert Global LLC lifted its position in Stepan by 209.1% in the third quarter. Algert Global LLC now owns 160,874 shares of the basic materials company’s stock valued at $7,674,000 after purchasing an additional 108,826 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Stepan during the second quarter valued at approximately $5,573,000. 82.70% of the stock is owned by institutional investors.
Stepan Company 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.
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