Legal & General Group Plc Grows Position in Stepan (SCL)

Legal & General Group Plc lifted its position in shares of Stepan (NYSE:SCL) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,482 shares of the basic materials company’s stock after purchasing an additional 2,712 shares during the quarter. Legal & General Group Plc owned about 0.19% of Stepan worth $3,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of Stepan by 96.3% during the 1st quarter. Wells Fargo & Company MN now owns 67,275 shares of the basic materials company’s stock valued at $5,596,000 after buying an additional 33,004 shares during the last quarter. SG Americas Securities LLC boosted its stake in Stepan by 55.0% during the 1st quarter. SG Americas Securities LLC now owns 5,357 shares of the basic materials company’s stock valued at $446,000 after purchasing an additional 1,900 shares during the period. Victory Capital Management Inc. boosted its stake in Stepan by 49.7% during the 1st quarter. Victory Capital Management Inc. now owns 3,870 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 1,284 shares during the period. Swiss National Bank boosted its stake in Stepan by 3.8% during the 1st quarter. Swiss National Bank now owns 35,400 shares of the basic materials company’s stock valued at $2,945,000 after purchasing an additional 1,300 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Stepan by 6.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 168,650 shares of the basic materials company’s stock valued at $14,029,000 after purchasing an additional 10,899 shares during the period. Institutional investors own 67.48% of the company’s stock.

SCL has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Stepan from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Wednesday. ValuEngine raised shares of Stepan from a “sell” rating to a “hold” rating in a research note on Friday, July 20th.

In other Stepan news, VP Frank Pacholec sold 500 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $89.49, for a total transaction of $44,745.00. Following the completion of the transaction, the vice president now directly owns 36,482 shares of the company’s stock, valued at approximately $3,264,774.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F Quinn Stepan sold 3,433 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $87.59, for a total transaction of $300,696.47. Following the transaction, the director now directly owns 275,574 shares of the company’s stock, valued at $24,137,526.66. The disclosure for this sale can be found here. Insiders have sold a total of 6,657 shares of company stock valued at $585,944 over the last three months. 12.60% of the stock is currently owned by company insiders.

Stepan stock opened at $87.51 on Thursday. The company has a quick ratio of 1.94, a current ratio of 2.55 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 18.82 and a beta of 1.19. Stepan has a 52-week low of $68.09 and a 52-week high of $90.96.

Stepan (NYSE:SCL) last posted its earnings results on Wednesday, July 25th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.38. The firm had revenue of $519.90 million during the quarter, compared to analyst estimates of $519.90 million. Stepan had a net margin of 4.82% and a return on equity of 14.63%. Stepan’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. equities analysts forecast that Stepan will post 4.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, August 30th. Stepan’s payout ratio is 19.35%.

Stepan Profile

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, and lubricating ingredients.

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Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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