Acadian Asset Management LLC Has $9.86 Million Position in Stepan Company (NYSE:SCL)

Acadian Asset Management LLC increased its position in Stepan Company (NYSE:SCL) by 103.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 113,168 shares of the basic materials company’s stock after buying an additional 57,455 shares during the period. Acadian Asset Management LLC owned approximately 0.50% of Stepan worth $9,860,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SCL. Russell Investments Group Ltd. raised its position in shares of Stepan by 137.5% in the second quarter. Russell Investments Group Ltd. now owns 29,592 shares of the basic materials company’s stock valued at $2,578,000 after buying an additional 17,132 shares during the period. US Bancorp DE raised its position in shares of Stepan by 1.9% in the second quarter. US Bancorp DE now owns 6,766 shares of the basic materials company’s stock valued at $590,000 after buying an additional 127 shares during the period. Alpha Windward LLC purchased a new position in shares of Stepan during the second quarter valued at approximately $471,000. Louisiana State Employees Retirement System raised its position in shares of Stepan by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the basic materials company’s stock valued at $697,000 after buying an additional 100 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Stepan by 79.4% in the second quarter. State of Alaska Department of Revenue now owns 3,858 shares of the basic materials company’s stock valued at $336,000 after buying an additional 1,708 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Stepan Company (SCL) traded down 0.18% on Friday, reaching $76.62. The company had a trading volume of 70,020 shares. The stock’s 50-day moving average is $84.42 and its 200-day moving average is $82.05. Stepan Company has a 52 week low of $66.97 and a 52 week high of $92.97. The company has a market capitalization of $1.73 billion, a P/E ratio of 19.95 and a beta of 1.26.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.07%. Stepan’s dividend payout ratio is presently 21.52%.

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Several research firms recently issued reports 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 target on the stock in a research report on Monday, May 29th. Zacks Investment Research upgraded Stepan from a “hold” rating to a “strong-buy” rating and set a $97.00 price target on the stock in a research report on Thursday, May 4th. BMO Capital Markets reduced their price target on Stepan from $42.00 to $36.00 in a research report on Monday, August 14th. Finally, National Bank Financial dropped their price objective on Stepan from $40.00 to $27.00 and set a “sector perform” rating for the company in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.00.

In related news, Director F Quinn Stepan sold 8,865 shares of the company’s stock in a transaction 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 directly owns 287,962 shares of the company’s stock, valued at approximately $23,180,941. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Frank Pacholec sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $79.33, for a total value of $79,330.00. Following the completion of the transaction, the vice president now directly owns 49,514 shares in the company, valued at $3,927,945.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,865 shares of company stock valued at $1,982,013. Company insiders own 13.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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