Stepan (NYSE:SCL) Holdings Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of Stepan (NYSE:SCL) by 26.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,429 shares of the basic materials company’s stock after selling 7,986 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Stepan worth $1,883,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Stepan during the 4th quarter worth about $12,869,000. First Eagle Investment Management LLC raised its holdings in Stepan by 36.3% during the 1st quarter. First Eagle Investment Management LLC now owns 70,376 shares of the basic materials company’s stock worth $6,337,000 after buying an additional 18,733 shares during the period. Vanguard Group Inc. raised its holdings in Stepan by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,562,730 shares of the basic materials company’s stock worth $242,306,000 after buying an additional 14,038 shares during the period. US Bancorp DE raised its holdings in Stepan by 229.9% during the 4th quarter. US Bancorp DE now owns 12,728 shares of the basic materials company’s stock worth $1,203,000 after buying an additional 8,870 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Stepan during the 2nd quarter worth about $679,000. 82.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Stepan Price Performance

Shares of SCL opened at $75.86 on Monday. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 45.70 and a beta of 0.80. Stepan has a fifty-two week low of $63.60 and a fifty-two week high of $96.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.32 and a quick ratio of 0.92. The business’s 50-day moving average is $78.69 and its 200-day moving average is $83.25.

Stepan (NYSE:SCL) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.41 earnings per share 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 analyst estimates of $581.30 million. Stepan had a net margin of 1.58% and a return on equity of 3.83%. Stepan’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Equities research analysts expect that Stepan will post 2.12 EPS for the current fiscal year.

Stepan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.375 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.50 annualized dividend and a dividend yield of 1.98%. Stepan’s payout ratio is 90.36%.

Insider Activity at Stepan

In other news, VP David Kabbes purchased 1,056 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $71.39 per share, with a total value of $75,387.84. Following the purchase, the vice president now owns 1,056 shares in the company, valued at approximately $75,387.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is currently owned by company insiders.

About Stepan

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.