Swiss National Bank Decreases Position in Stepan by 10.8% in Q1, SEC Filing Shows
According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the Swiss National Bank has reduced its position in Stepan (NYSE:SCL) by 10.8% during the first quarter. This move resulted in the sale of 5,800 shares of the basic materials company’s stock, leaving them with a total of 48,000 shares. Swiss National Bank now only owns 0.21% of Stepan, which is valued at $4,945,000 as calculated at the end of this reporting period.
Stepan also recently announced a quarterly dividend that will be distributed on Friday, September 15th. Stockholders who owned shares on Thursday, August 31st will be eligible to receive a dividend payout of $0.365 per share. This dividend represents an annualized basis of $1.46 and offers a dividend yield of approximately 1.66%. It’s worth noting that the ex-dividend date for this payment is Wednesday, August 30th.
Currently, Stepan reports a dividend payout ratio (DPR) of 42.57%, indicating that it allocates roughly this percentage of its earnings to distribute dividends to shareholders.
As with any investment decision, it is important for investors to conduct thorough research and analysis before making any financial commitments. Research reports on companies like Stepan can provide valuable insights into the business’s financial performance and growth potential for interested parties.
Disclaimer: The above article is based on credible information available on August 31, 2023. Any subsequent developments or changes regarding Stepan may not be reflected in this article. Investors are advised to refer to up-to-date sources for the latest information on Stepan and consult with their financial advisors before making any investment decisions.
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Stepan (NYSE:SCL) Faces Analyst Scrutiny and Hedge Fund Interest Amidst Quarterly Earnings Miss
August 31, 2023 – Stepan (NYSE:SCL), a leading basic materials company, has recently caught the attention of various hedge funds. Lazard Asset Management LLC acquired a new stake in Stepan during the fourth quarter, valuing it at $38,000. Tower Research Capital LLC TRC increased its position in Stepan by a staggering 226.5% during the first quarter, now owning 591 shares worth $61,000. Point72 Hong Kong Ltd also made significant gains in its position with Stepan, increasing it by 306.6% and acquiring 805 shares valued at $80,000. Quantbot Technologies LP followed suit by purchasing a new stake in Stepan during the second quarter for $148,000. Captrust Financial Advisors boosted their position in Stepan by 55.9% during the first quarter, adding an additional 629 shares valued at $173,000 to their portfolio. In total, hedge funds and other institutional investors now own approximately 79.64% of the company’s stock.
SCL has not been spared from analyst scrutiny either. TheStreet recently downgraded Stepan from a “b-” rating to a “c” rating in their research report on May 17th. StockNews.com also initiated coverage on Stepan in August with a “sell” rating.
Stepping into the financial specifics surrounding Stepan’s performance on the market – shares of SCL opened at $87.86 on Thursday and currently have a market cap of around $1.96 billion. The stock has experienced some fluctuations throughout the year, reaching a high of $114.97 and dropping to a low of $85.19 over the span of 52 weeks.
On July 26th, Stepan released its quarterly earnings report presenting somewhat disappointing results when compared to analyst expectations. The basic materials company reported earnings per share (EPS) of $0.53 for the quarter, falling short of the consensus estimate of $1.17 by a significant margin ($0.64). Furthermore, Stepan’s revenue for the quarter came in at $580.00 million, compared to analysts’ projections of $669.85 million.
Despite this setback, it is worth noting that Stepan demonstrated a return on equity (ROE) of 7.51% and a net margin of 3.07%. However, both figures are lower when compared to the previous year’s performance during the same quarter, where the company earned an EPS of $2.30.
Looking ahead, analysts project that Stepan will post an EPS of 2.78 for the current year.
In conclusion, Stepan has been making headlines lately due to its increased attention from hedge funds and institutional investors along with some less than favorable ratings from industry analysts. Its stock performance has had its ups and downs over the past year, currently sitting at $87.86 per share. Although the company’s recent quarterly earnings report fell short of expectations, Stepan still holds potential for growth as it continues to navigate through market challenges and strive towards future success.
