Stepan (NYSE:SCL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Stepan Company (NYSE:SCL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.49 and traded as high as $51.64. Stepan shares last traded at $51.2750, with a volume of 126,897 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on SCL. Weiss Ratings lowered shares of Stepan from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research lowered shares of Stepan from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Stepan presently has an average rating of “Sell”.

Stepan Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.26. The company has a market capitalization of $1.16 billion, a PE ratio of -82.70 and a beta of 0.95. The company’s 50-day simple moving average is $49.95 and its 200-day simple moving average is $50.49.

Stepan (NYSE:SCL) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.06. Stepan had a negative net margin of 0.61% and a positive return on equity of 2.65%. The company had revenue of $604.51 million for the quarter, compared to the consensus estimate of $612.25 million. During the same period last year, the firm posted $0.84 EPS. Stepan’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stepan Company will post 2.35 earnings per share for the current year.

Stepan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.395 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.58 annualized dividend and a dividend yield of 3.1%. Stepan’s payout ratio is presently -254.84%.

Institutional Trading of Stepan

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Stepan by 28.2% in the first quarter. Bank of America Corp DE now owns 49,178 shares of the basic materials company’s stock valued at $2,458,000 after purchasing an additional 10,819 shares during the period. Amundi acquired a new position in Stepan during the first quarter worth about $433,000. Empowered Funds LLC raised its position in Stepan by 124.8% during the first quarter. Empowered Funds LLC now owns 174,376 shares of the basic materials company’s stock worth $8,715,000 after acquiring an additional 96,823 shares during the last quarter. Quantinno Capital Management LP raised its position in Stepan by 55.8% during the first quarter. Quantinno Capital Management LP now owns 41,885 shares of the basic materials company’s stock worth $2,093,000 after acquiring an additional 15,002 shares during the last quarter. Finally, Dean Capital Management grew its holdings in shares of Stepan by 96.4% during the first quarter. Dean Capital Management now owns 57,248 shares of the basic materials company’s stock worth $2,861,000 after buying an additional 28,104 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.

Stepan Company Profile

Stepan Company is a global manufacturer of specialty and intermediate chemicals, primarily known for its development and production of surfactants and related specialty products. The company’s portfolio includes a wide range of ingredients used to enhance the performance of consumer and industrial formulations, such as emulsifiers, foam control agents, odor control agents, antimicrobial products and performance additives. These products are integral components in cleaning solutions, personal care items, agrochemical formulations, coatings, oilfield treatments and polymer systems.

Serving a diverse set of end-markets, Stepan’s offerings address both consumer-facing and industrial applications.