Russell Investments Group Ltd. Sells 3,617 Shares of Stepan (NYSE:SCL)

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Russell Investments Group Ltd. reduced its stake in Stepan (NYSE:SCL) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,747 shares of the basic materials company’s stock after selling 3,617 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Stepan worth $4,572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SCL. Dimensional Fund Advisors LP increased its holdings in shares of Stepan by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,097,483 shares of the basic materials company’s stock worth $81,214,000 after buying an additional 3,653 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Stepan by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 274,456 shares of the basic materials company’s stock worth $20,309,000 after buying an additional 15,923 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Stepan by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 157,776 shares of the basic materials company’s stock worth $14,173,000 after buying an additional 3,898 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Stepan by 42.9% during the second quarter. Wells Fargo & Company MN now owns 141,790 shares of the basic materials company’s stock worth $13,033,000 after buying an additional 42,601 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Stepan by 25.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,302 shares of the basic materials company’s stock worth $9,304,000 after buying an additional 21,540 shares in the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

NYSE SCL traded up $0.73 on Friday, reaching $98.90. The company had a trading volume of 117,050 shares, compared to its average volume of 74,989. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 20.27 and a beta of 1.30. Stepan has a fifty-two week low of $69.17 and a fifty-two week high of $101.84. The business has a 50 day moving average of $95.59 and a two-hundred day moving average of $91.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.69 and a quick ratio of 1.97.

Stepan (NYSE:SCL) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.19. The business had revenue of $473.00 million for the quarter, compared to analysts’ expectations of $519.20 million. Stepan had a net margin of 5.39% and a return on equity of 14.19%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 earnings per share. As a group, research analysts predict that Stepan will post 5.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Stepan’s dividend payout ratio (DPR) is currently 20.49%.

A number of analysts recently weighed in on the company. BMO Capital Markets decreased their price objective on Stepan from $28.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada assumed coverage on Stepan in a report on Wednesday, July 3rd. They issued a “sector perform” rating and a $21.00 price objective for the company. Scotiabank downgraded Stepan to a “sector underperform” rating and set a $20.00 price objective for the company. in a report on Tuesday, August 13th. Zacks Investment Research upgraded Stepan from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, ValuEngine downgraded Stepan from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Stepan currently has an average rating of “Hold” and an average target price of $54.14.

In other Stepan news, VP Arthur W. Mergner sold 3,232 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.16, for a total transaction of $310,789.12. Following the sale, the vice president now owns 15,219 shares of the company’s stock, valued at $1,463,459.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean Thomas Moriarty sold 3,418 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.97, for a total transaction of $338,279.46. Following the sale, the vice president now directly owns 5,075 shares in the company, valued at approximately $502,272.75. The disclosure for this sale can be found here. Insiders have sold 19,219 shares of company stock worth $1,879,580 in the last ninety days. Insiders own 11.40% of the company’s stock.

Stepan Profile

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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Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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