Seaport Res Ptn Comments on Stepan’s Q2 2024 Earnings (NYSE:SCL)

Stepan (NYSE:SCL) – Equities research analysts at Seaport Res Ptn cut their Q2 2024 earnings per share estimates for shares of Stepan in a research report issued to clients and investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will post earnings of $0.79 per share for the quarter, down from their previous forecast of $0.81. The consensus estimate for Stepan’s current full-year earnings is $2.53 per share. Seaport Res Ptn also issued estimates for Stepan’s Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.55 EPS and FY2025 earnings at $4.80 EPS.

Stepan (NYSE:SCL) last announced its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The business had revenue of $532.13 million during the quarter, compared to analyst estimates of $534.48 million. Stepan had a net margin of 1.73% and a return on equity of 4.20%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS.

Separately, StockNews.com upgraded Stepan from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th.

Stepan Stock Performance

Shares of SCL stock opened at $82.06 on Thursday. Stepan has a 52 week low of $63.60 and a 52 week high of $100.61. The firm has a 50 day moving average of $88.12 and a two-hundred day moving average of $85.01. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.84 billion, a PE ratio of 46.89 and a beta of 0.83.

Hedge Funds Weigh In On Stepan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCL. Great West Life Assurance Co. Can grew its holdings in shares of Stepan by 0.5% during the first quarter. Great West Life Assurance Co. Can now owns 18,485 shares of the basic materials company’s stock worth $1,875,000 after purchasing an additional 98 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Stepan by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,462 shares of the basic materials company’s stock worth $331,000 after buying an additional 134 shares during the last quarter. Royal Bank of Canada increased its position in Stepan by 3.1% during the third quarter. Royal Bank of Canada now owns 4,534 shares of the basic materials company’s stock worth $425,000 after buying an additional 137 shares during the period. Advisor Group Holdings Inc. increased its position in Stepan by 5.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,031 shares of the basic materials company’s stock worth $324,000 after buying an additional 154 shares during the period. Finally, Mariner LLC lifted its stake in Stepan by 3.7% in the fourth quarter. Mariner LLC now owns 4,316 shares of the basic materials company’s stock valued at $459,000 after buying an additional 155 shares during the last quarter. 82.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stepan

In other Stepan news, Director F Quinn Stepan, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $91.07, for a total transaction of $455,350.00. Following the completion of the transaction, the director now owns 255,567 shares in the company, valued at approximately $23,274,486.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Stepan news, Director F Quinn Stepan, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $91.07, for a total value of $455,350.00. Following the sale, the director now directly owns 255,567 shares in the company, valued at $23,274,486.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director F Quinn Stepan, Jr. sold 2,000 shares of Stepan stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.43, for a total value of $174,860.00. Following the sale, the director now directly owns 250,676 shares of the company’s stock, valued at $21,916,602.68. The disclosure for this sale can be found here. Insiders have sold a total of 10,637 shares of company stock valued at $957,940 over the last 90 days. 6.90% of the stock is owned by corporate insiders.

Stepan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid 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 1.83%. Stepan’s payout ratio is 85.71%.

About Stepan

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.