Stepan (NYSE:SCL) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its holdings in Stepan (NYSE:SCL) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,876 shares of the basic materials company’s stock after purchasing an additional 500 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.32% of Stepan worth $5,951,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. US Bancorp DE grew 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 valued at $1,203,000 after buying an additional 8,870 shares during the last quarter. Norges Bank purchased a new stake in Stepan during the 4th quarter worth about $12,869,000. Swedbank AB acquired a new position in Stepan in the 1st quarter valued at about $648,000. Assenagon Asset Management S.A. purchased a new position in Stepan in the 2nd quarter valued at about $679,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Stepan by 43.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,675 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 1,121 shares during the last quarter. 82.70% of the stock is owned by hedge funds and other institutional investors.

Stepan Trading Down 2.2 %

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

Stepan (NYSE:SCL) last issued its quarterly 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). Stepan had a return on equity of 3.83% and a net margin of 1.58%. The business had revenue of $556.41 million during the quarter, compared to analyst estimates of $581.30 million. During the same period in the previous year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Stepan will post 2.12 earnings per share for the current year.

Stepan Announces Dividend

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

Insiders Place Their Bets

In related news, VP David Kabbes acquired 1,056 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost 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 transaction was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.