Meiji Yasuda Asset Management Co Ltd. Has $2.20 Million Position in Stepan (NYSE:SCL)

Meiji Yasuda Asset Management Co Ltd. lessened its position in Stepan (NYSE:SCL) by 17.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,208 shares of the basic materials company’s stock after selling 5,392 shares during the period. Meiji Yasuda Asset Management Co Ltd. owned about 0.12% of Stepan worth $2,200,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Quest Partners LLC lifted its holdings in Stepan by 3,053.3% during the 2nd quarter. Quest Partners LLC now owns 473 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 458 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Stepan in the 4th quarter worth approximately $55,000. Innealta Capital LLC acquired a new position in shares of Stepan in the 2nd quarter worth approximately $59,000. Adirondack Trust Co. increased its holdings in Stepan by 60.0% during the 2nd quarter. Adirondack Trust Co. now owns 800 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 300 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in Stepan by 93,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 933 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 932 shares during the last quarter. Institutional investors own 82.70% of the company’s stock.

Insiders Place Their Bets

In other news, VP David Kabbes purchased 1,056 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $71.39 per share, with a total value of $75,387.84. Following the acquisition, the vice president now directly owns 1,056 shares of the company’s stock, valued at $75,387.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Stepan from a “buy” rating to a “hold” rating in a research note on Sunday, July 28th.

Stepan Price Performance

SCL opened at $76.53 on Thursday. The company has a fifty day moving average price of $79.25 and a two-hundred day moving average price of $83.47. The firm has a market capitalization of $1.72 billion, a PE ratio of 46.10 and a beta of 0.80. Stepan has a 52 week low of $63.60 and a 52 week high of $96.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 1.32.

Stepan (NYSE:SCL) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.26). The company had revenue of $556.41 million for the quarter, compared to the consensus estimate of $581.30 million. Stepan had a return on equity of 3.83% and a net margin of 1.58%. Stepan’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. As a group, analysts anticipate that Stepan will post 2.12 earnings per share for the current year.

Stepan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, August 30th. Stepan’s payout ratio is presently 90.36%.

Stepan Company Profile

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used in consumer and industrial cleaning and disinfection 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, disinfectants, and lubricating ingredients.