Legal & General Group Plc Takes $2.73 Million Position in Stepan Company $SCL

Legal & General Group Plc bought a new stake in Stepan Company (NYSE:SCL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 48,915 shares of the basic materials company’s stock, valued at approximately $2,726,000.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Stepan during the 2nd quarter valued at about $25,000. 1620 Investment Advisors Inc. grew 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 valued at $27,000 after purchasing an additional 265 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Stepan by 206.5% in the second 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 during the period. Allworth Financial LP acquired a new stake in shares of Stepan in the second quarter worth $33,000. Finally, Parallel Advisors LLC increased its position in Stepan by 700.0% during the fourth quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 602 shares during the period. Institutional investors and hedge funds own 82.70% of the company’s stock.

Stepan Stock Up 1.9%

Shares of NYSE SCL opened at $63.56 on Friday. Stepan Company has a 1 year low of $41.82 and a 1 year high of $68.00. The firm’s 50-day moving average is $60.83 and its 200-day moving average is $54.93. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.44 billion, a PE ratio of -529.67 and a beta of 0.94.

Stepan (NYSE:SCL) last posted its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.57. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The business had revenue of $684.11 million during the quarter, compared to the consensus estimate of $635.85 million. During the same period in the previous year, the firm posted $0.52 earnings per share. Stepan’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts expect that Stepan Company will post 2.69 EPS for the current year.

Stepan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.395 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.58 annualized dividend and a dividend yield of 2.5%. Stepan’s payout ratio is presently -1,316.67%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SCL. Zacks Research raised shares of Stepan from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Seaport Research Partners reiterated a “buy” rating and issued a $85.00 target price on shares of Stepan in a research note on Friday, August 7th. Weiss Ratings upgraded Stepan from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised Stepan from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

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.