Assenagon Asset Management S.A. Increases Holdings in Stepan (NYSE:SCL)

Assenagon Asset Management S.A. increased its stake in shares of Stepan (NYSE:SCL) by 924.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 82,901 shares of the basic materials company’s stock after purchasing an additional 74,809 shares during the period. Assenagon Asset Management S.A.’s holdings in Stepan were worth $6,404,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Stepan by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,562,730 shares of the basic materials company’s stock worth $242,306,000 after buying an additional 14,038 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in Stepan during the 1st quarter worth approximately $680,000. BNP Paribas Financial Markets lifted its stake in Stepan by 49.3% in the 1st quarter. BNP Paribas Financial Markets now owns 11,173 shares of the basic materials company’s stock worth $1,006,000 after purchasing an additional 3,690 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Stepan by 42.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,683 shares of the basic materials company’s stock valued at $332,000 after purchasing an additional 1,093 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Stepan during the 1st quarter valued at $725,000. Institutional investors own 82.70% of the company’s stock.

Stepan Stock Performance

NYSE:SCL opened at $73.85 on Tuesday. The stock has a market cap of $1.66 billion, a P/E ratio of 48.27 and a beta of 0.80. The company has a quick ratio of 0.92, a current ratio of 1.32 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $75.28 and its two-hundred day moving average price is $80.97. Stepan has a twelve month low of $69.78 and a twelve month high of $96.68.

Stepan (NYSE:SCL) last posted 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). Stepan had a return on equity of 3.83% and a net margin of 1.58%. The company had revenue of $556.41 million during the quarter, compared to the consensus estimate of $581.30 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities analysts predict that Stepan will post 2.09 EPS for the current fiscal year.

Stepan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Friday, August 30th. Stepan’s dividend payout ratio is currently 98.04%.

Analysts Set New Price Targets

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

Insider Transactions at Stepan

In other news, VP David Kabbes bought 1,056 shares of Stepan stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $71.39 per share, with a total value of $75,387.84. Following the completion of the purchase, the vice president now directly owns 1,056 shares in the company, valued at $75,387.84. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 7.00% of the stock is currently owned by insiders.

Stepan 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.