In the third quarter, Renaissance Technologies LLC lifted its stake in Stepan (NYSE: SCL), according to the most recent Securities and Exchange Commission filing.
The institutional investor held 49,300 shares of the Basic Materials Company’s common stock after acquiring 26,300 shares throughout the period. Stepan was owned by Renaissance Technologies LLC for a total of $4,618,000, or 0.22%, at the end of the most recent quarter.
Separately, StockNews.com lowered shares of Stepan from a “buy” rating to a “hold” rating in a research report on Friday, December 30.
Recent transfers of the stock’s shares have also occurred among numerous other hedge funds and institutional investors. Verition Fund Management LLC spent about $287,000 on a new stake in Stepan during the third quarter. CenterBook Partners LP grew its stake in Stepan by 79.0% during the third quarter. CenterBook Partners LP now owns 26,876 basic materials company shares worth $2,517,000 after acquiring 11,864 shares in the most recent quarter. Credit Suisse AG grew its stake in Stepan by 4.7% during the third quarter. Credit Suisse AG now owns 2,036,000 shares of the basic materials business, worth $21,737, after acquiring an additional 973 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Stepan shares by 74.6% during the third quarter.
After acquiring 368 more shares, Quadrant Capital Group LLC now owns 861 basic materials valued at $81,000.
Last but not least, Dimensional Fund Advisors LP grew its stake in Stepan shares by 2.5% during the third quarter.
After purchasing an additional 25,541 shares in the most recent quarter, Dimensional Fund Advisors LP now owns 1,034,232 shares of the basic materials company’s stock, valued at $96,880,000.
Institutions own 76.384 percent of the company’s stock.
SCL shares began trading on Monday at $96.64.
The company’s debt-to-equity ratio, quick ratio, and current ratio are all 0.39, 0.96, and 1.56, respectively.
Throughout the past year, Stepan’s high and low marks have been $116.72 and $91.64, respectively.
The company is worth $2.15 billion on the market, has a PE ratio of 15.17, and a beta of 0.83.
The company’s 50-day moving average is $107.31, and its 200-day moving average is $104.88.
Stepan (NYSE: SCL) published its most recent quarterly financial data on February 16. With earnings of $0.59 for the quarter, the basic materials firm outperformed analysts’ consensus forecasts by $0.05. Stepan achieved a 5.31% net margin and a 13.53% return on equity forecasts by $0.05. Stepan achieved a 5.31% net margin and a 13.53% return on equity. Sales for the quarter were $627.20 million, below analyst expectations of $628.18 million.
At the same time last year, the company’s profits per share were $0.97.
The company’s quarterly earnings climbed by 2.8% compared to the previous quarter.
Experts predict that Stepan will, on average, generate 5.6 profits per share for the current year.
Also, the business announced a quarterly dividend that would be paid on March 15. Stockholders with records as of Friday, March 3, will receive a dividend of $0.365.
This equates to a $1.46 yearly dividend yield of 1.51%.
The ex-dividend date is Thursday, March 2. Stepan’s dividend payout ratio (DPR) is 22.92%.
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