Stepan (NYSE:SCL) Hits New 12-Month High on Strong Earnings

Stepan Company (NYSE:SCL) shares hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $69.94 and last traded at $67.6450, with a volume of 23,616 shares changing hands. The stock had previously closed at $65.21.

The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.21. The company had revenue of $692.15 million during the quarter, compared to the consensus estimate of $634.30 million. During the same quarter last year, the business earned $0.48 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis.

Analyst Ratings Changes

A number of research firms have weighed in on SCL. Seaport Research Partners restated a “buy” rating and issued a $85.00 target price on shares of Stepan in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Stepan in a report on Tuesday. Zacks Research upgraded Stepan from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 29th. Finally, Wall Street Zen raised Stepan from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Stepan currently has an average rating of “Moderate Buy”.

Institutional Trading of Stepan

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Stepan by 194.8% during the third quarter. Farther Finance Advisors LLC now owns 395 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 261 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Stepan during the second quarter worth approximately $25,000. Allworth Financial LP acquired a new position in Stepan in the second quarter worth approximately $33,000. State of Wyoming acquired a new position in Stepan in the second quarter worth approximately $77,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Stepan in the second quarter worth approximately $85,000. 82.70% of the stock is currently owned by institutional investors.

Stepan Trading Up 3.6%

The business has a 50-day moving average price of $62.67 and a 200 day moving average price of $56.61. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -562.98 and a beta of 0.94.

Stepan Company Profile

Stepan Company (NYSE:SCL) is a global manufacturer of specialty and intermediate chemicals. Founded in 1932 and headquartered in Northfield, Illinois, the company develops products used by manufacturers in consumer and industrial markets.

Stepan’s principal products include surfactants, which are used in detergents, cleaners, personal-care products, agricultural formulations and other applications. The company also produces polyurethane polyols, phthalic anhydride and other specialty chemicals used in insulation, construction materials, coatings, plastics, food packaging and related industrial products.

Stepan serves customers across North America, Latin America, Europe and Asia through a network of manufacturing facilities, research and development operations, and sales organizations.