Allspring Global Investments Holdings LLC Cuts Position in Stepan (NYSE:SCL)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Stepan (NYSE:SCL) by 41.2% in the third quarter, HoldingsChannel.com reports. The fund owned 75,585 shares of the basic materials company’s stock after selling 52,885 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Stepan were worth $5,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Stepan by 2.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,541 shares of the basic materials company’s stock worth $717,000 after purchasing an additional 192 shares during the period. Louisiana State Employees Retirement System raised its position in Stepan by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the basic materials company’s stock worth $898,000 after acquiring an additional 200 shares during the period. Inspire Investing LLC boosted its stake in Stepan by 5.6% in the second quarter. Inspire Investing LLC now owns 4,210 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 223 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Stepan by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,597 shares of the basic materials company’s stock valued at $1,674,000 after acquiring an additional 242 shares during the period. Finally, CWM LLC increased its stake in shares of Stepan by 2.8% during the 3rd quarter. CWM LLC now owns 10,500 shares of the basic materials company’s stock worth $811,000 after purchasing an additional 287 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors.

Stepan Stock Down 0.4 %

SCL stock opened at $72.60 on Monday. The stock has a fifty day moving average of $75.32 and a 200-day moving average of $81.06. Stepan has a fifty-two week low of $69.78 and a fifty-two week high of $96.68. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 43.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 1.32.

Stepan (NYSE:SCL) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.26). The business had revenue of $556.41 million during the quarter, compared to the consensus estimate of $581.30 million. Stepan had a net margin of 1.58% and a return on equity of 3.83%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. As a group, equities research analysts predict that Stepan will post 2.09 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. Stockholders of record on Friday, August 30th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, August 30th. Stepan’s payout ratio is currently 90.36%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Stepan from a “buy” rating to a “hold” rating in a research note on Sunday, July 28th.

Insider Activity

In related news, VP David Kabbes acquired 1,056 shares of the company’s stock in a transaction that occurred on 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 acquisition, the vice president now owns 1,056 shares of the company’s stock, valued at approximately $75,387.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.90% of the stock is owned by company insiders.

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.