Metropolitan Life Insurance Co NY reduced its holdings in shares of Stepan (NYSE:SCL) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,597 shares of the basic materials company’s stock after selling 179 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Stepan were worth $577,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Stepan during the fourth quarter worth $35,800,000. BlackRock Inc. lifted its holdings in shares of Stepan by 2.8% during the fourth quarter. BlackRock Inc. now owns 2,976,582 shares of the basic materials company’s stock worth $220,267,000 after buying an additional 81,517 shares in the last quarter. Roubaix Capital LLC acquired a new stake in shares of Stepan during the first quarter worth $4,468,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Stepan by 25.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 106,302 shares of the basic materials company’s stock worth $9,304,000 after buying an additional 21,540 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Stepan by 15.4% during the first quarter. Eagle Asset Management Inc. now owns 159,837 shares of the basic materials company’s stock worth $13,988,000 after buying an additional 21,325 shares in the last quarter. 71.92% of the stock is owned by institutional investors.
Stepan stock traded up $0.15 during midday trading on Friday, reaching $92.95. The company’s stock had a trading volume of 61,072 shares, compared to its average volume of 78,400. Stepan has a 52 week low of $69.17 and a 52 week high of $95.32. The company has a current ratio of 2.74, a quick ratio of 2.01 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $90.65. The firm has a market cap of $2.10 billion, a PE ratio of 19.05 and a beta of 1.29.
SCL has been the subject of a number of research reports. ValuEngine downgraded Whiting USA Trust II from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Royal Bank of Canada set a $184.00 price target on Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $67.80.
In other news, VP Frank Pacholec sold 1,931 shares of Stepan stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $91.94, for a total transaction of $177,536.14. Following the sale, the vice president now directly owns 8,664 shares of the company’s stock, valued at $796,568.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Wehmer sold 1,200 shares of Stepan stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $90.52, for a total value of $108,624.00. Following the completion of the transaction, the director now directly owns 10,253 shares in the company, valued at $928,101.56. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,000 shares of company stock worth $87,880 and have sold 5,332 shares worth $486,759. Company insiders own 11.40% of the company’s stock.
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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