State Street Corp. Amends Stepan Co. Stake, Maintains Passive Investment

TL;DR

**State Street Corp. still owns Stepan Co. stock, a good sign for stability.**

AI Summary

State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 24, 2024, indicating its ownership of Stepan Co. common stock as of December 31, 2023. This filing is an update to their previous disclosures, confirming their continued significant, but passive, investment in Stepan Co. For investors, this means a large institutional player maintains confidence in Stepan Co., which can be a positive signal, though it doesn't suggest any active management changes.

Why It Matters

This filing confirms a major institutional investor, State Street Corporation, continues to hold a significant stake in Stepan Co., signaling ongoing institutional confidence in the company's prospects.

Risk Assessment

Risk Level: low — This filing is routine and indicates a passive investment by a large institution, posing minimal risk to current or prospective shareholders.

Analyst Insight

Investors should view this as a routine update from a large institutional holder, confirming their continued passive investment in Stepan Co. It doesn't signal any immediate catalysts but reinforces the company's institutional backing.

Key Players & Entities

• State Street Corporation (company) — the reporting person and institutional investor
• Stepan Co. (company) — the subject company whose common stock is being reported
• December 31, 2023 (date) — the date of the event which requires the filing of this statement
• January 24, 2024 (date) — the filing date of the SC 13G/A amendment

FAQ

From the Filing

0000093751-24-000164.txt : 20240124 0000093751-24-000164.hdr.sgml : 20240124 20240124123312 ACCESSION NUMBER: 0000093751-24-000164 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240124 DATE AS OF CHANGE: 20240124 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: STEPAN CO CENTRAL INDEX KEY: 0000094049 STANDARD INDUSTRIAL CLASSIFICATION: SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS [2840] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 361823834 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-34475 FILM NUMBER: 24555339 BUSINESS ADDRESS: STREET 1: EDENS & WINNETKA ROAD CITY: NORTHFIELD STATE: IL ZIP: 60093 BUSINESS PHONE: 8474467500 MAIL ADDRESS: STREET 1: EDENS & WINNETKA ROAD CITY: NORTHFIELD STATE: IL ZIP: 60093 FORMER COMPANY: FORMER CONFORMED NAME: STEPAN CHEMICAL CO /DE/ DATE OF NAME CHANGE: 19840108 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Stepan_Co.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING STEPAN CO (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 858586100 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:858586100 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 1,137,499 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 1,212,248 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,212,248 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.42% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 858586100 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER STEPAN CO (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 1101 SKOKIE BLVD SUITE 500 NORTHBROOK IL 60062 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE