Stepan (NYSE:SCL) Plans Dividend Increase – $0.39 Per Share

Stepan (NYSE:SCL) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.385 per share by the basic materials company on Friday, December 13th. This represents a $1.54 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, November 29th. This is a positive change from Stepan’s previous quarterly dividend of $0.38.

Stepan has raised its dividend by an average of 9.2% annually over the last three years and has raised its dividend every year for the last 56 years. Stepan has a dividend payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Stepan to earn $4.08 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 36.8%.

Stepan Price Performance

Shares of SCL stock opened at $74.40 on Thursday. Stepan has a 12-month low of $69.78 and a 12-month high of $96.68. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 48.62 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 firm has a fifty day moving average of $75.21 and a 200-day moving average of $80.85.

Stepan (NYSE:SCL) last announced its earnings results on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.39. The firm had revenue of $546.84 million during the quarter, compared to analyst estimates of $577.23 million. Stepan had a net margin of 1.58% and a return on equity of 3.83%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. On average, equities research analysts forecast that Stepan will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In related news, VP David Kabbes bought 1,056 shares of Stepan stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $71.39 per share, with a total value of $75,387.84. Following the purchase, the vice president now owns 1,056 shares in the company, valued at approximately $75,387.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Stepan from a “buy” rating to a “hold” rating in a research note on Sunday, July 28th.

Stepan Company 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.