FY2024 EPS Estimates for Stepan Increased by Seaport Res Ptn

Stepan (NYSE:SCL - Free Report) - Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Stepan in a report released on Monday, November 11th. Seaport Res Ptn analyst M. Harrison now expects that the basic materials company will post earnings per share of $2.60 for the year, up from their previous estimate of $2.03. The consensus estimate for Stepan's current full-year earnings is $2.09 per share. Seaport Res Ptn also issued estimates for Stepan's Q4 2024 earnings at $0.52 EPS, Q3 2025 earnings at $1.17 EPS and Q4 2025 earnings at $0.71 EPS.

Stepan (NYSE:SCL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.38. The business had revenue of $546.84 million during the quarter, compared to the consensus estimate of $577.23 million. Stepan had a return on equity of 4.56% and a net margin of 2.10%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS.

Separately, StockNews.com downgraded Stepan from a "buy" rating to a "hold" rating in a research note on Saturday, November 9th.

Stepan Stock Performance

Shares of Stepan stock traded down $0.43 during trading hours on Thursday, reaching $75.97. 25,695 shares of the stock traded hands, compared to its average volume of 92,414. The company has a 50 day moving average price of $75.16 and a 200 day moving average price of $80.36. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 38.02 and a beta of 0.81. Stepan has a one year low of $69.78 and a one year high of $96.68. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SCL. Assenagon Asset Management S.A. lifted its holdings in Stepan by 924.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 82,901 shares of the basic materials company's stock worth $6,404,000 after purchasing an additional 74,809 shares in the last quarter. American Century Companies Inc. lifted its holdings in Stepan by 51.1% in the 2nd quarter. American Century Companies Inc. now owns 211,302 shares of the basic materials company's stock worth $17,741,000 after purchasing an additional 71,431 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Stepan by 7.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 747,140 shares of the basic materials company's stock worth $62,730,000 after purchasing an additional 52,944 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Stepan by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,279,450 shares of the basic materials company's stock worth $107,421,000 after purchasing an additional 34,264 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Stepan in the 2nd quarter worth approximately $2,013,000. 82.70% of the stock is owned by hedge funds and other institutional investors.

Stepan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.385 per share. This is a boost from Stepan's previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, November 29th. Stepan's payout ratio is presently 74.63%.

About Stepan

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.