Harbor Capital Advisors Inc., an investment firm, has recently acquired a new position in Stepan, a basic materials company listed on the New York Stock Exchange (NYSE:SCL). This information was disclosed in Harbor Capital Advisors Inc.’s most recent 13F filing with the Securities and Exchange Commission (SEC), as of the second quarter. The fund purchased 10,122 shares of Stepan’s stock, valued at approximately $967,000.
In its most recent earnings report released on July 26th, Stepan reported an earnings per share (EPS) of $0.53 for the quarter. This figure fell short of analysts’ average estimate of $1.17 by a margin of ($0.64). The company generated revenue amounting to $580.00 million for the quarter, which was lower than the consensus estimate of $669.85 million. Stepan’s return on equity stood at 7.51%, while its net margin reached 3.07%. Comparing this quarter to the same period in the previous year, Stepan witnessed a decline in revenue by 22.8%. In the prior year’s second quarter, the company posted earnings per share of $2.30.
Equity research analysts project that Stepan will achieve earnings per share of 2.78 for the current fiscal year on average.
Adding to recent developments surrounding Stepan’s performance and market perception, StockNews.com initiated coverage on Stepan shares in a research note issued on August 17th, classifying it as a “sell” rating.
This acquisition reflects Harbor Capital Advisors Inc.’s confidence in Stepan’s long-term prospects within its sector and overall market conditions. However, it is important to note that investing decisions should be based on careful analysis and consideration of various factors beyond one company’s stock position or ratings from external entities.
Investors and interested parties are encouraged to conduct their own due diligence and consult with financial professionals to make informed investment decisions. Furthermore, it is essential to stay updated with the latest developments and regulatory disclosures reported by Stepan and other relevant entities in order to stay well-informed about the company’s operations, financial performance, and market dynamics.
Titan International, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
10:00 PM (UTC)
Date:18 September, 2023
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Major Investors’ Fluctuations in Stepan’s Holdings Shape Future Prospects
In the ever-evolving world of investment, it is not uncommon to witness fluctuations in the holdings of large investors. Recent reports reveal that Stepan, a prominent basic materials company, has experienced such modifications from several major investors. One such investor is Great West Life Assurance Co. Can, which has increased its holdings in Stepan by a modest 0.5% during the first quarter of this year. This move saw Great West Life Assurance Co. Can acquire an additional 98 shares of Stepan’s stock, amounting to a value of $1,875,000.
Another significant investor making adjustments to their stake in Stepan is Victory Capital Management Inc., which raised its holding by 1.4% in the fourth quarter. As a result, Victory Capital Management Inc. now owns 8,307 shares of Stepan’s stock with a valuation of $912,000.
Royal Bank of Canada also participated in this trend by raising its stake in Stepan by 3.1% during the third quarter. Their increased investment now amounts to a total of 4,534 shares valued at $425,000.
Arizona State Retirement System also made a mark by increasing its stake in Stepan by 2.3% during the first quarter. This move allowed them to possess an additional 147 shares worth $664,000.
Lastly, Advisor Group Holdings Inc., too, swelled its interest in Stepan by 5.4% during the fourth quarter and currently holds 3,031 shares worth $324,000.
These modifications from institutional investors contribute significantly to shaping the landscape for Stepan’s future endeavors as they account for an astonishingly high percentage (79.64%) of the company’s stock ownership.
In other noteworthy news surrounding Stepan’s recent developments, Director Randall S. Dearth was seen partaking in stock selling activities on Monday, August 28th. Dearth sold off 590 shares of Stepan’s stock at an average price of $87.19, summing up to a total transaction value of $51,442.10. This sale leaves the director with a remaining ownership of 10,210 shares in the company, which is evaluated at approximately $890,209.90. The legality of this transaction was disclosed through a filing with the Securities & Exchange Commission (SEC), and further information regarding it can be accessed on the SEC website. Notably, insiders currently own 6.90% of Stepan’s stock.
As of recent data analysis, shares of Stepan began trading at $79.44 on Tuesday. It is important to note that the firm has experienced a fifty-day moving average of $89.10 and a two-hundred-day moving average of $93.44. Stepan holds a market capitalization amounting to $1.78 billion with a price-to-earnings ratio standing at 23.16 and a beta rating of 0.82 – indicating moderate volatility within the market scope.
Furthermore, Stepan showcases a 52-week low of $76.97 and an impressive high of $114.97 within its stock performance range. In terms of financial health and stability, the company holds a debt-to-equity ratio totaling 0.36 while presenting favorable liquidity ratios in its quick ratio (0.93) and current ratio (1.46).
With these recent developments in mind, it remains crucial for investors to remain vigilant as they make informed decisions revolving around Stepan’s future potential in the basic materials industry sector.
In conclusion, as we approach September 19th, 2023, significant alterations made by various large investors regarding their holdings in Stepan have brought about substantial implications for both the company itself and its prospective shareholders alike.formality