Principal Financial Group Inc. Sells 14,966 Shares of Stepan Company $SCL

Principal Financial Group Inc. lessened its holdings in Stepan Company (NYSE:SCL) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,445 shares of the basic materials company’s stock after selling 14,966 shares during the quarter. Principal Financial Group Inc.’s holdings in Stepan were worth $5,220,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. raised its position in Stepan by 86.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 570 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Stepan by 206.5% in the second quarter. EverSource Wealth Advisors LLC now owns 521 shares of the basic materials company’s stock valued at $28,000 after buying an additional 351 shares during the period. Parallel Advisors LLC raised its position in shares of Stepan by 700.0% during the fourth quarter. Parallel Advisors LLC now owns 688 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 602 shares during the last quarter. Quarry LP acquired a new position in shares of Stepan in the third quarter worth approximately $34,000. Finally, Danske Bank A S acquired a new position in shares of Stepan in the third quarter worth approximately $43,000. 82.70% of the stock is currently owned by institutional investors and hedge funds.

Stepan Price Performance

Shares of SCL opened at $57.85 on Wednesday. Stepan Company has a 52-week low of $41.82 and a 52-week high of $68.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.26. The business’s 50 day moving average price is $54.85 and its two-hundred day moving average price is $53.62. The firm has a market cap of $1.31 billion, a PE ratio of -93.31 and a beta of 0.95.

Stepan (NYSE:SCL) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $604.51 million for the quarter, compared to the consensus estimate of $612.25 million. Stepan had a negative net margin of 0.61% and a positive return on equity of 2.65%. Stepan’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities analysts anticipate that Stepan Company will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

SCL has been the subject of a number of recent analyst reports. Zacks Research raised shares of Stepan from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Stepan from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Stepan Company Profile

Stepan Company is a global manufacturer of specialty and intermediate chemicals, primarily known for its development and production of surfactants and related specialty products. The company’s portfolio includes a wide range of ingredients used to enhance the performance of consumer and industrial formulations, such as emulsifiers, foam control agents, odor control agents, antimicrobial products and performance additives. These products are integral components in cleaning solutions, personal care items, agrochemical formulations, coatings, oilfield treatments and polymer systems.

Serving a diverse set of end-markets, Stepan’s offerings address both consumer-facing and industrial applications.