Zacks Investment Research lowered shares of Sensient Technologies Corp. (NYSE:SXT) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Sensient Technologies Corporation is a leading global supplier of colors, flavors and fragrances. Using sophisticated technologies at facilities around the world, the Company develops unique formulations and ingredients that bring life to its customers’ products. Sensient manufactures a full range of ink-jet inks, cosmetic and pharmaceutical additives, as well as colors and flavors for many of the world’s best-known brands. (Press Release) “
A number of other brokerages have also commented on SXT. Gabelli lowered Sensient Technologies Corp. from a buy rating to a hold rating in a research report on Monday, July 25th. Sidoti initiated coverage on Sensient Technologies Corp. in a research report on Friday, September 2nd. They issued a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Sensient Technologies Corp. presently has a consensus rating of Hold and a consensus target price of $73.75.
Sensient Technologies Corp. (NYSE:SXT) opened at 73.66 on Wednesday. Sensient Technologies Corp. has a 52 week low of $52.69 and a 52 week high of $76.15. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 29.05 and a beta of 0.96. The stock’s 50 day moving average price is $74.20 and its 200-day moving average price is $71.31.
Sensient Technologies Corp. (NYSE:SXT) last issued its earnings results on Thursday, October 20th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Sensient Technologies Corp. had a return on equity of 16.28% and a net margin of 8.20%. During the same period last year, the business posted $0.77 earnings per share. On average, equities research analysts forecast that Sensient Technologies Corp. will post $3.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 1.63%. This is an increase from Sensient Technologies Corp.’s previous quarterly dividend of $0.27. Sensient Technologies Corp.’s payout ratio is 42.52%.
In other Sensient Technologies Corp. news, Director Essie Whitelaw sold 1,269 shares of Sensient Technologies Corp. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $74.00, for a total transaction of $93,906.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.87% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SXT. Handelsbanken Fonder AB increased its position in Sensient Technologies Corp. by 6.0% in the second quarter. Handelsbanken Fonder AB now owns 878,700 shares of the company’s stock worth $62,423,000 after buying an additional 50,000 shares during the period. Silvercrest Asset Management Group LLC increased its position in shares of Sensient Technologies Corp. by 0.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 852,985 shares of the company’s stock worth $54,131,000 after buying an additional 7,316 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Sensient Technologies Corp. by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,410,627 shares of the company’s stock worth $89,518,000 after buying an additional 73,323 shares during the last quarter. BlackRock Inc. increased its position in shares of Sensient Technologies Corp. by 6.5% in the first quarter. BlackRock Inc. now owns 17,964 shares of the company’s stock worth $1,140,000 after buying an additional 1,097 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Sensient Technologies Corp. by 40.5% in the second quarter. Nisa Investment Advisors LLC now owns 16,300 shares of the company’s stock worth $1,158,000 after buying an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.
About Sensient Technologies Corp.
Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.