Great West Life Assurance Co. Can boosted its stake in Stepan Co. (NYSE:SCL) by 7.1% during the third quarter, Holdings Channel reports. The institutional investor owned 26,829 shares of the company’s stock after buying an additional 1,788 shares during the period. Great West Life Assurance Co. Can owned 0.12% of Stepan worth $1,950,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank raised its position in Stepan by 1.9% in the second quarter. Swiss National Bank now owns 31,900 shares of the company’s stock valued at $1,899,000 after buying an additional 600 shares in the last quarter. Gratus Capital LLC purchased a new position in Stepan during the second quarter valued at approximately $441,000. Societe Generale purchased a new position in Stepan during the second quarter valued at approximately $125,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Stepan during the second quarter valued at approximately $319,000. Finally, New Amsterdam Partners LLC NY purchased a new position in Stepan during the second quarter valued at approximately $2,963,000. Institutional investors and hedge funds own 60.87% of the company’s stock.
Stepan Co. (NYSE:SCL) traded up 0.35% during mid-day trading on Friday, reaching $80.05. The company’s stock had a trading volume of 28,525 shares. The stock has a market capitalization of $1.79 billion, a P/E ratio of 20.67 and a beta of 1.13. Stepan Co. has a 1-year low of $41.42 and a 1-year high of $80.59. The stock’s 50 day moving average price is $73.62 and its 200 day moving average price is $66.76.
Stepan (NYSE:SCL) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The company earned $445.03 million during the quarter, compared to the consensus estimate of $444.65 million. Stepan had a return on equity of 16.74% and a net margin of 5.03%. Stepan’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. Analysts expect that Stepan Co. will post $4.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.205 dividend. The ex-dividend date is Monday, November 28th. This is an increase from Stepan’s previous quarterly dividend of $0.19. This represents a $0.82 annualized dividend and a yield of 1.02%. Stepan’s payout ratio is 19.64%.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Stepan from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. TD Securities reiterated a “buy” rating and issued a $39.00 price objective on shares of Stepan in a research note on Thursday, November 10th. Seaport Global Securities increased their price objective on Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, August 24th. Finally, National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $32.00 to $37.00 in a research note on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.00.
In other news, VP Frank Pacholec sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $72.00, for a total transaction of $108,000.00. Following the completion of the sale, the vice president now directly owns 51,489 shares of the company’s stock, valued at approximately $3,707,208. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory Servatius sold 4,832 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $74.86, for a total transaction of $361,723.52. Following the sale, the vice president now directly owns 19,343 shares of the company’s stock, valued at $1,448,016.98. The disclosure for this sale can be found here. 14.40% of the stock is owned by company insiders.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.