Stepan Company (SCL) Forms Bullish Double Top Chart Pattern; Strong Momentum for Buyers Coming

September 8, 2018 - By Jack Shaw

Investors sentiment decreased to 1.16 in Q1 2018. Its down 0.19, from 1.35 in 2017Q4. It dived, as 16 investors sold Stepan Company shares while 59 reduced holdings. 30 funds opened positions while 57 raised stakes. 14.44 million shares or 3.89% more from 13.90 million shares in 2017Q4 were reported.
The New York-based Wellington Shields Mngmt Lc has invested 0.38% in Stepan Company (NYSE:SCL). Moreover, Wilen Inv Mngmt has 0.51% invested in Stepan Company (NYSE:SCL). Vanguard holds 0.01% of its portfolio in Stepan Company (NYSE:SCL) for 2.14 million shares. Amer Intl Gp has 0% invested in Stepan Company (NYSE:SCL) for 12,764 shares. Voya Investment Mngmt Ltd holds 34,076 shares or 0.01% of its portfolio. Moreover, Teachers Retirement Systems Of The State Of Kentucky has 0.01% invested in Stepan Company (NYSE:SCL) for 7,069 shares. 863 are owned by Huntington Bankshares. New York State Teachers Retirement owns 40,885 shares or 0.01% of their US portfolio. State Bank Of Montreal Can reported 32,343 shares. Gemmer Asset Mngmt Ltd reported 90 shares stake. Price T Rowe Assocs Inc Md reported 202,910 shares stake. Victory Cap Management reported 0% in Stepan Company (NYSE:SCL). Dimensional Fund Advsr Lp stated it has 1.06 million shares or 0.04% of all its holdings. Prelude Capital Ltd Com has invested 0.03% in Stepan Company (NYSE:SCL). Dean Capital accumulated 44,720 shares.

The chart of Stepan Company (SCL) shows a double top with $94.05 target or 7.00 % above today’s $87.90 share price. The 5 months chart pattern indicates low risk for the $1.98B company. It was reported on Sep, 8 by If the $94.05 price target is reached, the company will be worth $138.60M more. Double tops are rare but powerful chart patterns.

The stock increased 0.03% or $0.03 during the last trading session, reaching $87.9. About 50,963 shares traded. Stepan Company (NYSE:SCL) has declined 17.33% since September 8, 2017 and is downtrending. It has underperformed by 29.90% the S&P500.

Analysts await Stepan Company (NYSE:SCL) to report earnings on October, 24. They expect $1.04 earnings per share, up 13.04 % or $0.12 from last year’s $0.92 per share. SCL’s profit will be $23.43 million for 21.13 P/E if the $1.04 EPS becomes a reality. After $1.38 actual earnings per share reported by Stepan Company for the previous quarter, Wall Street now forecasts -24.64 % negative EPS growth.

Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company has market cap of $1.98 billion. The firm operates through three divisions: Surfactants, Polymers, and Specialty Products. It has a 21.5 P/E ratio. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning 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, and lubricating ingredients.

Stepan Company (NYSE:SCL) Institutional Positions Chart

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