The BlackRock Inc. Raises Stake in Stepan Co. (SCL)

The BlackRock Inc. Raises Stake in Stepan Co. (SCL)

BlackRock Inc. increased its stake in Stepan Co. (NYSE:SCL) by 17.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,980 shares of the company’s stock after buying an additional 1,656 shares during the period. BlackRock Inc.’s holdings in Stepan were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. California Public Employees Retirement System boosted its stake in Stepan by 2.8% in the third quarter. California Public Employees Retirement System now owns 55,800 shares of the company’s stock valued at $4,054,000 after buying an additional 1,500 shares in the last quarter. Prudential Financial Inc. boosted its stake in Stepan by 1.0% in the second quarter. Prudential Financial Inc. now owns 268,674 shares of the company’s stock valued at $15,994,000 after buying an additional 2,670 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Stepan during the second quarter valued at approximately $280,000. State Board of Administration of Florida Retirement System boosted its stake in Stepan by 11.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 14,352 shares of the company’s stock valued at $854,000 after buying an additional 1,500 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Stepan by 172.1% in the third quarter. First Trust Advisors LP now owns 66,483 shares of the company’s stock valued at $4,831,000 after buying an additional 42,047 shares in the last quarter. Institutional investors and hedge funds own 61.47% of the company’s stock.

Stepan Co. (NYSE:SCL) traded up 0.28% during mid-day trading on Friday, reaching $78.17. 62,752 shares of the company’s stock were exchanged. Stepan Co. has a 52-week low of $41.42 and a 52-week high of $87.00. The stock has a 50-day moving average price of $82.37 and a 200 day moving average price of $72.39. The company has a market cap of $1.75 billion, a PE ratio of 20.19 and a beta of 1.19.

Several analysts recently commented on SCL shares. TD Securities raised their price target on shares of Stepan from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. BMO Capital Markets raised their price target on shares of Stepan from $40.00 to $42.00 in a report on Tuesday, January 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Stepan has an average rating of “Buy” and a consensus price target of $51.00.

In other Stepan news, VP Debra Stefaniak sold 1,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $77.63, for a total transaction of $77,630.00. Following the transaction, the vice president now directly owns 6,497 shares in the company, valued at approximately $504,362.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gregory Servatius sold 4,832 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $74.86, for a total transaction of $361,723.52. Following the transaction, the vice president now owns 19,343 shares in the company, valued at $1,448,016.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,270 shares of company stock worth $609,575. Corporate insiders own 14.40% of the company’s stock.

About Stepan

Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.

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