Stepan Company (SCL) was Downgraded by Seaport Global Securities to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 63 from a previous price target of $61 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on May 3, 2016.
On the company’s financial health, Stepan Company reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.31 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.98. The company had revenue of $445.89 million for the quarter, compared to analysts expectations of $443.60 million. The company’s revenue was down -3.2 % compared to the same quarter last year.
Stepan Company closed down -0.3 points or -0.49% at $60.99 with 1,05,509 shares getting traded on Monday. Post opening the session at $61.18, the shares hit an intraday low of $60.72 and an intraday high of $61.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on May 2, 2016, F Quinn Stepan (Chairman) sold 13,400 shares at $62.32 per share price. According to the SEC, on Apr 20, 2016, F Quinn Jr Stepan (President & CEO) sold 462 shares at $58.46 per share price. On Mar 7, 2016, Debra Stefaniak (VP, Business Transformation) purchased 500 shares at $54.05 per share price, according to the Form-4 filing with the securities and exchange commission.
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 Companys 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. The Companys Polymers segment includes polyurethane polyols polyester resins and phthalic anhydride. Polyurethane polyols are used in the manufacture of rigid foam for thermal insulation. The Companys Polymers segment includes polyurethane polyols polyester resins and phthalic anhydride. Polyurethane polyols are used in the manufacture of rigid foam for thermal insulation.