Stepan (NYSE:SCL) Reaches New 52-Week Low – Here’s What Happened

Stepan (NYSE:SCL) hit a new 52-week low during trading on Monday . The company traded as low as $63.81 and last traded at $64.18, with a volume of 6177 shares. The stock had previously closed at $65.26.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Stepan from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th.

Stepan Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $1.45 billion, a PE ratio of 32.11 and a beta of 0.82. The stock’s 50-day moving average is $73.89 and its 200 day moving average is $77.38.

Stepan (NYSE:SCL) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.38. Stepan had a return on equity of 4.56% and a net margin of 2.10%. The business had revenue of $546.84 million during the quarter, compared to analyst estimates of $577.23 million. During the same period last year, the company earned $0.64 earnings per share. Stepan’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that Stepan will post 2.54 earnings per share for the current year.

Stepan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 2.39%. This is a positive change from Stepan’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 29th. Stepan’s payout ratio is currently 76.62%.

Hedge Funds Weigh In On Stepan

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Stepan by 19.8% during the third quarter. JPMorgan Chase & Co. now owns 142,790 shares of the basic materials company’s stock valued at $11,031,000 after buying an additional 23,626 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Stepan by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 486,976 shares of the basic materials company’s stock valued at $37,626,000 after acquiring an additional 4,777 shares in the last quarter. Barclays PLC lifted its holdings in Stepan by 177.6% in the 3rd quarter. Barclays PLC now owns 44,790 shares of the basic materials company’s stock worth $3,460,000 after purchasing an additional 28,655 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Stepan by 14.6% during the third quarter. Public Employees Retirement System of Ohio now owns 72,490 shares of the basic materials company’s stock worth $5,600,000 after purchasing an additional 9,213 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Stepan in the third quarter valued at approximately $602,000. Institutional investors and hedge funds own 82.70% of the company’s stock.

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.