American Century Companies Inc. Has $27.98 Million Stock Holdings in Stepan Company $SCL

American Century Companies Inc. boosted its stake in Stepan Company (NYSE:SCL) by 8.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 586,473 shares of the basic materials company’s stock after buying an additional 45,520 shares during the period. American Century Companies Inc. owned approximately 2.59% of Stepan worth $27,975,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Stepan by 206.5% during the second quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 351 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of Stepan during the third quarter worth approximately $30,000. Raymond James Financial Inc. bought a new position in shares of Stepan during the second quarter worth approximately $100,000. PNC Financial Services Group Inc. lifted its holdings in Stepan by 34.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,703 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 688 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Stepan during the 3rd quarter worth approximately $207,000. 82.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on SCL shares. Zacks Research lowered Stepan from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings downgraded Stepan from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Stepan Stock Down 1.6%

Shares of SCL opened at $48.05 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. Stepan Company has a 12 month low of $41.82 and a 12 month high of $68.00. The firm’s 50 day moving average is $55.27 and its 200-day moving average is $49.78. The stock has a market capitalization of $1.09 billion, a PE ratio of 23.44 and a beta of 1.05.

Stepan (NYSE:SCL) last issued its quarterly earnings results on Monday, February 23rd. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.37). Stepan had a net margin of 2.01% and a return on equity of 3.38%. The company had revenue of $553.89 million during the quarter, compared to the consensus estimate of $570.60 million. During the same quarter last year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Stepan Company will post 3.55 EPS for the current year.

Stepan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 2nd. Stepan’s dividend payout ratio is 77.07%.

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.