Stepan (NYSE:SCL – Free Report) – Equities research analysts at Seaport Res Ptn dropped their FY2023 earnings estimates for Stepan in a report issued on Wednesday, February 7th. Seaport Res Ptn analyst M. Harrison now anticipates that the basic materials company will earn $2.36 per share for the year, down from their prior estimate of $2.38. The consensus estimate for Stepan’s current full-year earnings is $2.26 per share. Seaport Res Ptn also issued estimates for Stepan’s Q4 2023 earnings at $0.48 EPS, Q1 2024 earnings at $0.77 EPS and FY2025 earnings at $5.33 EPS.
Separately, CL King upgraded shares of Stepan from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Thursday, October 19th.
Stepan Price Performance
Shares of NYSE:SCL opened at $89.38 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 1.46. The firm has a fifty day moving average price of $90.52 and a 200 day moving average price of $84.13. Stepan has a fifty-two week low of $63.60 and a fifty-two week high of $112.19. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 39.37 and a beta of 0.84.
Hedge Funds Weigh In On Stepan
Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Stepan by 2,141.7% in the 4th quarter. Fifth Third Bancorp now owns 269 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 257 shares in the last quarter. Adirondack Trust Co. acquired a new stake in Stepan during the 3rd quarter worth $37,000. Lazard Asset Management LLC purchased a new stake in shares of Stepan in the fourth quarter valued at about $38,000. Copeland Capital Management LLC boosted its stake in Stepan by 277.5% during the fourth quarter. Copeland Capital Management LLC now owns 453 shares of the basic materials company’s stock worth $43,000 after buying an additional 333 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Stepan during the fourth quarter worth about $48,000. 79.64% of the stock is owned by hedge funds and other institutional investors.
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 worldwide. It operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients 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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