Stepan (NYSE:SCL) Shares Gap Up to $84.53

Stepan (NYSE:SCL) gapped up prior to trading on Tuesday . The stock had previously closed at $84.53, but opened at $87.16. Stepan shares last traded at $86.70, with a volume of 17,754 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Stepan from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th.

Stepan Price Performance

The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $87.14 and its two-hundred day moving average price is $86.00. The stock has a market cap of $1.88 billion, a P/E ratio of 48.30 and a beta of 0.83.

Stepan (NYSE:SCL) last released its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.04). Stepan had a net margin of 1.73% and a return on equity of 4.20%. The company had revenue of $532.13 million for the quarter, compared to analysts’ expectations of $534.48 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Stepan will post 2.52 earnings per share for the current fiscal year.

Stepan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.79%. Stepan’s dividend payout ratio is 85.71%.

Insider Buying and Selling at Stepan

In related news, Director F Quinn Stepan, Jr. sold 3,637 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.11, for a total value of $327,730.07. Following the transaction, the director now owns 255,567 shares of the company’s stock, valued at approximately $23,029,142.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director F Quinn Stepan, Jr. sold 2,000 shares of Stepan stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.43, for a total value of $174,860.00. Following the completion of the sale, the director now directly owns 250,676 shares in the company, valued at approximately $21,916,602.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F Quinn Stepan, Jr. sold 3,637 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.11, for a total transaction of $327,730.07. Following the transaction, the director now directly owns 255,567 shares of the company’s stock, valued at $23,029,142.37. The disclosure for this sale can be found here. Insiders sold 10,637 shares of company stock worth $957,940 over the last 90 days. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Stepan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Stepan by 5,436.3% during the 4th quarter. Victory Capital Management Inc. now owns 516,704 shares of the basic materials company’s stock valued at $48,854,000 after acquiring an additional 507,371 shares during the last quarter. HighTower Advisors LLC raised its position in Stepan by 8.1% in the third quarter. HighTower Advisors LLC now owns 2,165,082 shares of the basic materials company’s stock worth $162,317,000 after acquiring an additional 162,560 shares in the last quarter. Norges Bank purchased a new position in Stepan in the fourth quarter worth $12,869,000. Assenagon Asset Management S.A. purchased a new position in Stepan in the third quarter worth $4,286,000. Finally, First Eagle Investment Management LLC purchased a new position in Stepan in the fourth quarter worth $4,883,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.

Stepan Company 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.