Fri Sep 20 08:12:58 UTC 2024: ## Stepan Sees Increased Institutional Interest and Dividend Announcement

**New York, NY (MarketBeat News) –** Stepan Company (NYSE: SCL), a leading producer of specialty and intermediate chemicals, has seen increased interest from institutional investors in recent months, according to data from Holdings Channel.

Edgestream Partners L.P. took a new position in Stepan during the second quarter, acquiring 23,974 shares valued at approximately $2,013,000. Several other hedge funds also increased their holdings in Stepan, including Nisa Investment Advisors LLC, Louisiana State Employees Retirement System, Texas Permanent School Fund Corp, Adirondack Trust Co., and Illinois Municipal Retirement Fund.

Overall, institutional investors now own 82.70% of Stepan’s outstanding stock.

While StockNews.com downgraded Stepan from a “buy” to a “hold” rating on July 28th, the company continues to attract attention from investors.

Stepan reported its quarterly earnings on July 31st, missing analyst estimates for earnings per share but showing revenue of $556.41 million for the quarter.

The company also announced a quarterly dividend of $0.375 per share, payable on September 13th to investors of record on August 30th. This represents a $1.50 annualized dividend and a yield of 1.93%.

**Insider Transactions:**

Stepan’s VP David Kabbes purchased 1,056 shares of the company’s stock on August 14th at an average cost of $71.39 per share, for a total value of $75,387.84. Company insiders currently own 6.90% of Stepan’s stock.

**Outlook:**

Analysts are expecting Stepan to post 2.12 earnings per share for the current fiscal year.

**Disclaimer:** This article is based on publicly available information and should not be considered as investment advice. Always consult with a qualified financial professional before making any investment decisions.

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