StockNews.com upgraded shares of Stepan (NYSE:SCL - Free Report) from a hold rating to a buy rating in a research note published on Friday morning.
Stepan Trading Up 1.6 %
SCL traded up $0.99 during midday trading on Friday, reaching $62.54. 49,854 shares of the company were exchanged, compared to its average volume of 125,160. 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 has a one year low of $59.70 and a one year high of $94.76. The stock has a market capitalization of $1.41 billion, a P/E ratio of 31.11 and a beta of 0.84. The stock's 50-day simple moving average is $66.24 and its 200 day simple moving average is $72.49.
Hedge Funds Weigh In On Stepan
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in shares of Stepan by 110.6% during the 4th quarter. Versant Capital Management Inc now owns 457 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Copeland Capital Management LLC bought a new stake in Stepan in the 3rd quarter valued at approximately $48,000. KBC Group NV lifted its stake in 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 acquiring an additional 285 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Stepan in the 3rd quarter valued at approximately $161,000. Finally, Point72 DIFC Ltd bought a new stake in Stepan in the 3rd quarter valued at approximately $168,000. Institutional investors own 82.70% of the company's stock.
Stepan Company Profile
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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.
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