Rhumbline Advisers Has $6.76 Million Stock Position in Stepan (NYSE:SCL)

Rhumbline Advisers cut its stake in Stepan (NYSE:SCL) by 2.1% in the second quarter, HoldingsChannel reports. The fund owned 80,559 shares of the basic materials company’s stock after selling 1,744 shares during the period. Rhumbline Advisers’ holdings in Stepan were worth $6,764,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Stepan by 2.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,541 shares of the basic materials company’s stock valued at $717,000 after buying an additional 192 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Stepan by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the basic materials company’s stock worth $898,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Stepan by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 18,597 shares of the basic materials company’s stock valued at $1,674,000 after purchasing an additional 242 shares during the period. Adirondack Trust Co. boosted its stake in shares of Stepan by 60.0% in the 2nd quarter. Adirondack Trust Co. now owns 800 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 300 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of Stepan by 2.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,422 shares of the basic materials company’s stock worth $1,118,000 after buying an additional 354 shares during the period. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Stepan Trading Up 2.0 %

Shares of NYSE:SCL opened at $73.87 on Friday. The company’s 50-day moving average price is $79.55 and its two-hundred day moving average price is $83.74. Stepan has a one year low of $63.60 and a one year high of $96.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.32 and a quick ratio of 0.92. The stock has a market capitalization of $1.66 billion, a PE ratio of 44.50 and a beta of 0.80.

Stepan (NYSE:SCL) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.26). The firm had revenue of $556.41 million for the quarter, compared to analyst estimates of $581.30 million. Stepan had a return on equity of 3.83% and a net margin of 1.58%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities analysts forecast that Stepan will post 2.12 EPS for the current fiscal year.

Stepan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.375 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.50 annualized dividend and a dividend yield of 2.03%. Stepan’s dividend payout ratio (DPR) is presently 90.36%.

Insider Transactions at Stepan

In related news, VP David Kabbes purchased 1,056 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $71.39 per share, for a total transaction of $75,387.84. Following the completion of the transaction, the vice president now owns 1,056 shares of the company’s stock, valued at $75,387.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Stepan from a “buy” rating to a “hold” rating in a research report on Sunday, July 28th.

Stepan Company Profile

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.