New York State Common Retirement Fund Buys 18,522 Shares of Stepan (NYSE:SCL)

New York State Common Retirement Fund increased its stake in Stepan (NYSE:SCL) by 42.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,149 shares of the basic materials company’s stock after purchasing an additional 18,522 shares during the period. New York State Common Retirement Fund owned approximately 0.28% of Stepan worth $4,021,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Stepan by 110.6% in the fourth quarter. Versant Capital Management Inc now owns 457 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 240 shares during the last quarter. KBC Group NV grew its position in Stepan by 43.9% in the third quarter. KBC Group NV now owns 934 shares of the basic materials company’s stock valued at $72,000 after acquiring an additional 285 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Stepan in the third quarter valued at about $161,000. Point72 DIFC Ltd bought a new position in Stepan in the third quarter valued at about $168,000. Finally, Point72 Asset Management L.P. bought a new position in Stepan in the third quarter valued at about $170,000. Institutional investors own 82.70% of the company’s stock.

Stepan Stock Performance

NYSE:SCL opened at $61.68 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 27.91 and a beta of 0.84. The company has a current ratio of 1.21, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $63.27 and its 200-day moving average is $70.96. Stepan has a 1-year low of $59.55 and a 1-year high of $94.76.

Stepan (NYSE:SCL) last released its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.33). The firm had revenue of $525.60 million for the quarter, compared to the consensus estimate of $520.97 million. Stepan had a return on equity of 4.21% and a net margin of 2.31%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. Equities research analysts anticipate that Stepan will post 3.55 earnings per share for the current year.

Stepan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Monday, March 3rd. Stepan’s dividend payout ratio (DPR) is currently 69.68%.

Analyst Ratings Changes

Separately, StockNews.com cut Stepan from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Insider Transactions at Stepan

In related news, Director Susan Lewis acquired 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average cost of $63.53 per share, with a total value of $31,765.00. Following the completion of the purchase, the director now directly owns 1,896 shares in the company, valued at $120,452.88. The trade was a 35.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 6.90% of the company’s stock.

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.