StockNews.com Upgrades Stepan (NYSE:SCL) to “Buy”

Stepan (NYSE:SCL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Stepan Trading Up 0.8 %

Shares of NYSE:SCL opened at $72.89 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.27 and a quick ratio of 0.92. The firm has a market capitalization of $1.64 billion, a P/E ratio of 36.26 and a beta of 0.81. The business’s 50-day moving average is $75.08 and its 200 day moving average is $80.72. Stepan has a 1 year low of $69.78 and a 1 year high of $96.68.

Stepan (NYSE:SCL) last released its earnings results on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.39. The company had revenue of $546.84 million for the quarter, compared to the consensus estimate of $577.23 million. Stepan had a net margin of 2.10% and a return on equity of 4.56%. Stepan’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, research analysts predict that Stepan will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP David Kabbes acquired 1,056 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 1,056 shares of the company’s stock, valued at $75,387.84. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stepan

Hedge funds have recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of Stepan in the first quarter valued at about $648,000. First Eagle Investment Management LLC boosted its position in Stepan by 36.3% during the first quarter. First Eagle Investment Management LLC now owns 70,376 shares of the basic materials company’s stock worth $6,337,000 after acquiring an additional 18,733 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Stepan during the 2nd quarter valued at about $679,000. Semanteon Capital Management LP acquired a new position in shares of Stepan during the 3rd quarter worth approximately $1,195,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Stepan by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,878 shares of the basic materials company’s stock valued at $1,250,000 after buying an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.

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.