Westwood Holdings Group Inc. Acquires 52,944 Shares of Stepan (NYSE:SCL)

Westwood Holdings Group Inc. grew its holdings in Stepan (NYSE:SCL) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 747,140 shares of the basic materials company’s stock after acquiring an additional 52,944 shares during the period. Westwood Holdings Group Inc. owned 3.32% of Stepan worth $62,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC increased its holdings in Stepan by 3,053.3% in the 2nd quarter. Quest Partners LLC now owns 473 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 458 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in shares of Stepan during the 4th quarter valued at $55,000. Innealta Capital LLC bought a new position in Stepan in the 2nd quarter worth $59,000. Adirondack Trust Co. increased its stake in Stepan by 60.0% in the 2nd quarter. Adirondack Trust Co. now owns 800 shares of the basic materials company’s stock worth $67,000 after buying an additional 300 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in Stepan by 93,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 933 shares of the basic materials company’s stock valued at $95,000 after acquiring an additional 932 shares during the period. Hedge funds and other institutional investors own 82.70% of the company’s stock.

Insider Activity

In related news, VP David Kabbes purchased 1,056 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $71.39 per share, for a total transaction of $75,387.84. Following the completion of the transaction, the vice president now directly owns 1,056 shares in the company, valued at $75,387.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Stepan Price Performance

Stepan stock opened at $75.81 on Friday. Stepan has a 52-week low of $63.60 and a 52-week high of $96.68. The company has a quick ratio of 0.92, a current ratio of 1.32 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $78.69 and its 200 day moving average is $83.30. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 45.67 and a beta of 0.80.

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

Stepan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, August 30th. Stepan’s dividend payout ratio (DPR) is 90.36%.

Stepan 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.