Stepan (NYSE:SCL) Declares Quarterly Dividend of $0.28

Stepan (NYSE:SCL) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.275 per share by the basic materials company on Friday, December 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Stepan’s previous quarterly dividend of $0.25.

SCL opened at $96.35 on Monday. The company’s 50 day moving average is $96.86 and its 200-day moving average is $93.71. Stepan has a 1-year low of $69.17 and a 1-year high of $101.84. The company has a current ratio of 2.72, a quick ratio of 2.03 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.16 billion, a P/E ratio of 19.74 and a beta of 1.28.

Stepan (NYSE:SCL) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Stepan had a net margin of 5.75% and a return on equity of 14.10%. The company had revenue of $451.60 million for the quarter, compared to the consensus estimate of $489.40 million. During the same period last year, the company posted $1.11 EPS. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities analysts forecast that Stepan will post 4.89 EPS for the current year.

In related news, VP Arthur W. Mergner sold 3,232 shares of Stepan stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.16, for a total transaction of $310,789.12. Following the sale, the vice president now directly owns 15,219 shares in the company, valued at approximately $1,463,459.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David Kabbes bought 821 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $97.50 per share, for a total transaction of $80,047.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 8,866 shares of company stock worth $865,893. 11.40% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. Scotiabank downgraded shares of Stepan to a “sector underperform” rating and set a $20.00 price target on the stock. in a research note on Tuesday, August 13th. Zacks Investment Research downgraded shares of Stepan from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. ValuEngine downgraded shares of Stepan from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets reduced their price target on shares of Stepan from $28.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Stepan has an average rating of “Hold” and a consensus target price of $52.20.

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 in North America, Europe, Latin America, and Asia. The company operates through three segments: Surfactants, Polymers, and Specialty Products.

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Dividend History for Stepan (NYSE:SCL)

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