Short Interest in Stepan (NYSE:SCL) Expands By 24.0%

Stepan (NYSE:SCL - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 350,900 shares, a growth of 24.0% from the October 15th total of 283,000 shares. Based on an average daily trading volume, of 112,600 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.6% of the company's stock are short sold.

Hedge Funds Weigh In On Stepan

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC lifted its holdings in shares of Stepan by 3,053.3% during the 2nd quarter. Quest Partners LLC now owns 473 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 458 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in Stepan in the third quarter worth about $48,000. Innealta Capital LLC purchased a new stake in shares of Stepan during the second quarter worth about $59,000. Adirondack Trust Co. increased its holdings in shares of Stepan by 60.0% during the second quarter. Adirondack Trust Co. now owns 800 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 300 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Stepan by 43.9% in the 3rd quarter. KBC Group NV now owns 934 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 285 shares during the last quarter. 82.70% of the stock is owned by hedge funds and other institutional investors.

Stepan Stock Down 1.5 %

Stepan stock traded down $1.16 during mid-day trading on Friday, reaching $74.74. 118,702 shares of the company were exchanged, compared to its average volume of 92,763. Stepan has a 12-month low of $69.78 and a 12-month high of $96.68. The business has a fifty day moving average of $75.26 and a 200 day moving average of $80.26. The firm has a market cap of $1.68 billion, a P/E ratio of 37.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.86 and a current ratio of 1.27.

Stepan (NYSE:SCL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.38. The company had revenue of $546.84 million for 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 firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Research analysts anticipate that Stepan will post 2.54 earnings per share for the current fiscal year.

Stepan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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. The ex-dividend date is Friday, November 29th. This represents a $1.54 dividend on an annualized basis and a yield of 2.06%. Stepan's dividend payout ratio is presently 74.63%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Stepan from a "buy" rating to a "hold" rating in a report on Saturday, November 9th.

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.