Versant Capital Management Inc lessened its position in Stepan (NYSE:SCL) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 444 shares of the basic materials company’s stock after selling 138 shares during the period. Versant Capital Management Inc’s holdings in Stepan were worth $40,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Stepan by 189.0% in the 1st quarter. FMR LLC now owns 341 shares of the basic materials company’s stock valued at $30,000 after buying an additional 223 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Stepan in the 2nd quarter valued at about $151,000. Meeder Asset Management Inc. grew its position in Stepan by 227.7% in the 1st quarter. Meeder Asset Management Inc. now owns 1,796 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,248 shares in the last quarter. SG Americas Securities LLC bought a new position in Stepan in the 1st quarter valued at about $233,000. Finally, CIBC Asset Management Inc bought a new position in Stepan in the 1st quarter valued at about $236,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Frank Pacholec sold 1,931 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $91.94, for a total transaction of $177,536.14. Following the completion of the transaction, the vice president now owns 8,664 shares in the company, valued at approximately $796,568.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Luis Rojo acquired 300 shares of Stepan stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $86.64 per share, with a total value of $25,992.00. Following the transaction, the chief financial officer now owns 1,900 shares in the company, valued at approximately $164,616. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 750 shares of company stock valued at $65,488 and have sold 15,643 shares valued at $1,519,392. Company insiders own 11.40% of the company’s stock.
Stepan (NYSE:SCL) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.19. Stepan had a net margin of 5.39% and a return on equity of 14.19%. The company had revenue of $473.00 million during the quarter, compared to analyst estimates of $519.20 million. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts forecast that Stepan will post 4.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Stepan’s dividend payout ratio (DPR) is 20.49%.
SCL has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Stepan from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Stepan from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada initiated coverage on shares of Stepan in a research report on Wednesday, July 3rd. They issued a “sector perform” rating and a $21.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $67.80.
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.
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