The Manufacturers Life Insurance Company Invests $502,000 in Stepan Company $SCL

The Manufacturers Life Insurance Company bought a new position in Stepan Company (NYSE:SCL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,012 shares of the basic materials company’s stock, valued at approximately $502,000.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Stepan by 8.3% during the first quarter. Royal Bank of Canada now owns 11,211 shares of the basic materials company’s stock worth $617,000 after purchasing an additional 859 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Stepan during the 1st quarter valued at $818,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Stepan by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,701 shares of the basic materials company’s stock worth $699,000 after buying an additional 555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Stepan by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 66,301 shares of the basic materials company’s stock worth $3,649,000 after buying an additional 2,707 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Stepan in the 2nd quarter worth $495,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research upgraded Stepan from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Seaport Research Partners restated a “buy” rating and set a $85.00 price target on shares of Stepan in a research note on Friday, August 7th. Wall Street Zen upgraded Stepan from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised Stepan from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Stepan presently has an average rating of “Reduce”.

Stepan Price Performance

Stepan stock opened at $63.56 on Monday. The firm has a fifty day moving average of $60.83 and a 200-day moving average of $54.85. Stepan Company has a 52-week low of $41.82 and a 52-week high of $68.00. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1.44 billion, a P/E ratio of -529.67 and a beta of 0.94.

Stepan (NYSE:SCL) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.57. Stepan had a negative net margin of 0.11% and a positive return on equity of 3.90%. The business had revenue of $684.11 million for the quarter, compared to analyst estimates of $635.85 million. During the same quarter in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, analysts predict that Stepan Company will post 2.69 EPS for the current year.

Stepan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 1st. Stepan’s payout ratio is currently -1,316.67%.

About Stepan

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.