Stepan (NYSE:SCL) – Analysts at Seaport Global Securities cut their FY2017 EPS estimates for Stepan in a note issued to investors on Monday, Zacks Investment Research reports. Seaport Global Securities analyst M. Harrison now anticipates that the basic materials company will earn $4.30 per share for the year, down from their prior estimate of $4.36. Seaport Global Securities also issued estimates for Stepan’s Q4 2017 earnings at $0.70 EPS, Q1 2018 earnings at $1.36 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.18 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $4.74 EPS and FY2019 earnings at $5.45 EPS.
A number of other research firms have also recently weighed in on SCL. Zacks Investment Research cut shares of Stepan from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Scotiabank upgraded shares of Stepan from an “underperform” rating to a “sector perform” rating and set a $32.00 price objective on the stock in a research report on Tuesday, November 14th. Finally, National Bank Financial boosted their price objective on shares of Stepan from $35.00 to $36.00 in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Stepan currently has a consensus rating of “Hold” and a consensus price target of $35.60.
Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its holdings in Stepan by 455.2% in the 2nd quarter. Advisor Group Inc. now owns 1,177 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 965 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Stepan in the 4th quarter valued at about $209,000. Amalgamated Bank lifted its holdings in Stepan by 3.9% in the 2nd quarter. Amalgamated Bank now owns 2,757 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 104 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Stepan in the 4th quarter valued at about $282,000. Finally, Suntrust Banks Inc. lifted its holdings in Stepan by 4.7% in the 2nd quarter. Suntrust Banks Inc. now owns 3,275 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 62.79% of the company’s stock.
In related news, VP Debra Stefaniak sold 818 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $82.66, for a total value of $67,615.88. Following the sale, the vice president now directly owns 6,616 shares in the company, valued at approximately $546,878.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.10% of the stock is owned by insiders.
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Stepan Company Profile
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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