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

Allspring Global Investments Holdings LLC reduced its holdings in shares of Stepan (NYSE:SCLFree Report) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,845 shares of the basic materials company’s stock after selling 7,276 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.76% of Stepan worth $15,293,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in Stepan by 30.7% in the 4th quarter. Russell Investments Group Ltd. now owns 105,217 shares of the basic materials company’s stock worth $9,948,000 after purchasing an additional 24,721 shares in the last quarter. US Bancorp DE lifted its stake in Stepan by 229.9% in the 4th quarter. US Bancorp DE now owns 12,728 shares of the basic materials company’s stock worth $1,203,000 after purchasing an additional 8,870 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Stepan in the 4th quarter worth approximately $258,000. Dimensional Fund Advisors LP lifted its stake in Stepan by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,201,133 shares of the basic materials company’s stock worth $113,568,000 after purchasing an additional 31,641 shares in the last quarter. Finally, Norges Bank purchased a new stake in Stepan in the 4th quarter worth approximately $12,869,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Stepan from a “buy” rating to a “hold” rating in a research note on Thursday.

Check Out Our Latest Stock Report on SCL

Stepan Price Performance

Shares of NYSE:SCL opened at $82.44 on Monday. The company’s fifty day moving average price is $85.25 and its 200-day moving average price is $87.77. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 49.66 and a beta of 0.81. Stepan has a one year low of $63.60 and a one year high of $96.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.97.

Stepan (NYSE:SCLGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.29. The firm had revenue of $551.40 million for the quarter, compared to analyst estimates of $575.83 million. Stepan had a net margin of 1.71% and a return on equity of 4.04%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that Stepan will post 2.8 earnings per share for the current fiscal year.

Stepan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, May 31st. Stepan’s payout ratio is 90.36%.

Stepan 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 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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