New York Life Investment Management LLC Has $479,000 Holdings in Stepan (NYSE:SCL)

Posted by on Aug 17th, 2023

New York Life Investment Management LLC lessened its holdings in Stepan (NYSE:SCL – Free Report) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,651 shares of the basic materials company’s stock after selling 1,090 shares during the period. New York Life Investment Management LLC’s holdings in Stepan were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Global Investments acquired a new stake in shares of Stepan in the 1st quarter valued at $732,000. Barclays PLC lifted its position in Stepan by 5.1% during the 1st quarter. Barclays PLC now owns 30,786 shares of the basic materials company’s stock worth $3,172,000 after acquiring an additional 1,481 shares during the last quarter. Jump Financial LLC acquired a new position in Stepan during the 1st quarter worth $382,000. Bahl & Gaynor Inc. lifted its position in Stepan by 1.6% during the 1st quarter. Bahl & Gaynor Inc. now owns 24,867 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 403 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Stepan by 33.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,937 shares of the basic materials company’s stock worth $1,951,000 after acquiring an additional 4,741 shares during the last quarter. Institutional investors and hedge funds own 76.63% of the company’s stock.

Stepan Stock Down 0.7 %

Shares of SCL opened at $87.98 on Thursday. The company has a 50-day simple moving average of $93.98 and a 200-day simple moving average of $97.44. The firm has a market capitalization of $1.97 billion, a P/E ratio of 25.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.93 and a current ratio of 1.46. Stepan has a 52 week low of $87.09 and a 52 week high of $115.28.

Stepan (NYSE:SCL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.64). The company had revenue of $580.00 million for the quarter, compared to analyst estimates of $669.85 million. Stepan had a net margin of 3.07% and a return on equity of 7.51%. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 EPS. On average, equities research analysts expect that Stepan will post 2.78 earnings per share for the current year.

Stepan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, August 30th. Stepan’s dividend payout ratio is currently 42.57%.

Analyst Upgrades and Downgrades

SCL has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Stepan in a research report on Thursday. They set a “sell” rating for the company. TheStreet lowered shares of Stepan from a “b-” rating to a “c” rating in a research report on Wednesday, May 17th.

Get Our Latest Analysis on SCL

Insider Activity

In other news, VP Arthur W. Mergner sold 3,987 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $93.34, for a total transaction of $372,146.58. Following the completion of the transaction, the vice president now owns 27,616 shares of the company’s stock, valued at $2,577,677.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Arthur W. Mergner sold 3,987 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $93.34, for a total value of $372,146.58. Following the sale, the vice president now owns 27,616 shares of the company’s stock, valued at $2,577,677.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Arthur W. Mergner sold 1,996 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $98.23, for a total transaction of $196,067.08. Following the completion of the sale, the vice president now directly owns 27,516 shares in the company, valued at approximately $2,702,896.68. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Stepan Company Profile

(Free Report)

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 as principal ingredients 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.

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Institutional Ownership by Quarter for Stepan (NYSE:SCL)

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