Stepan (NYSE:SCL) Upgraded at StockNews.com

StockNews.com upgraded shares of Stepan (NYSE:SCL) from a hold rating to a buy rating in a research report report published on Friday.

Stepan Stock Down 2.5 %

Shares of Stepan stock opened at $61.08 on Friday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 30.39 and a beta of 0.84. Stepan has a twelve month low of $59.70 and a twelve month high of $94.76. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $66.55 and its 200-day simple moving average is $72.69.

Hedge Funds Weigh In On Stepan

Several hedge funds and other institutional investors have recently modified their holdings of SCL. Versant Capital Management Inc grew its holdings in Stepan by 110.6% in the 4th quarter. Versant Capital Management Inc now owns 457 shares of the basic materials company’s stock worth $30,000 after buying an additional 240 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of Stepan in the third quarter worth $48,000. KBC Group NV increased its holdings in shares of Stepan by 43.9% during the third quarter. KBC Group NV now owns 934 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 285 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Stepan during the third quarter valued at about $161,000. Finally, Point72 DIFC Ltd acquired a new stake in Stepan in the third quarter worth about $168,000. Institutional investors and hedge funds 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.