Stepan Company (SCL) Stake Raised by Acrospire Investment Management LLC

Acrospire Investment Management LLC raised its holdings in Stepan Company (NYSE:SCL) by 224.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,589 shares of the basic materials company’s stock after buying an additional 1,100 shares during the quarter. Acrospire Investment Management LLC’s holdings in Stepan were worth $138,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Meadow Creek Investment Management LLC grew its position in shares of Stepan by 1.8% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,568 shares of the basic materials company’s stock worth $124,000 after buying an additional 28 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Stepan in the 1st quarter worth approximately $134,000. Victory Capital Management Inc. grew its position in shares of Stepan by 28.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,917 shares of the basic materials company’s stock worth $151,000 after buying an additional 429 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Stepan in the 1st quarter worth approximately $202,000. Finally, Amalgamated Bank grew its position in shares of Stepan by 3.9% in the 2nd quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock worth $240,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.

A number of brokerages have recently weighed in on SCL. BidaskClub lowered Stepan from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Industrial Alliance Securities upgraded Stepan from a “buy” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research report on Monday, May 29th. BMO Capital Markets cut their price objective on Stepan from $42.00 to $36.00 in a research report on Monday, August 14th. National Bank Financial cut their price objective on Stepan from $40.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Monday, June 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Stepan in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.40.

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Stepan Company (NYSE:SCL) traded up 0.26% during midday trading on Tuesday, hitting $81.95. The company had a trading volume of 4,829 shares. Stepan Company has a 52 week low of $67.85 and a 52 week high of $92.97. The company has a market capitalization of $1.85 billion, a P/E ratio of 21.34 and a beta of 1.26. The stock has a 50 day moving average price of $78.87 and a 200 day moving average price of $82.37.

Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.02). Stepan had a return on equity of 14.95% and a net margin of 4.85%. The firm had revenue of $495.10 million during the quarter, compared to the consensus estimate of $472.35 million. During the same period last year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts forecast that Stepan Company will post $4.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.82 annualized dividend and a yield of 1.00%. Stepan’s dividend payout ratio (DPR) is currently 21.52%.

In related news, Director F Quinn Stepan sold 8,865 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.50, for a total value of $713,632.50. Following the transaction, the director now owns 287,962 shares of the company’s stock, valued at $23,180,941. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman F Quinn Stepan, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $79.27, for a total value of $1,189,050.00. Following the completion of the transaction, the chairman now directly owns 151,864 shares in the company, valued at approximately $12,038,259.28. The disclosure for this sale can be found here. In the last three months, insiders sold 27,904 shares of company stock worth $2,221,092. 13.10% of the stock is owned by insiders.

About Stepan

Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a range of end products. The Company operates through three segments: Surfactants, Polymers and Specialty Products. The Company’s principal markets include manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products and plastics.

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Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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