Sensient Technologies Co. (NYSE:SXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
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) “
Separately, KeyCorp upped their price objective on shares of Sensient Technologies from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, January 23rd.
Sensient Technologies (NYSE:SXT) opened at 81.60 on Friday. The stock has a market cap of $3.62 billion, a P/E ratio of 28.99 and a beta of 0.92. Sensient Technologies has a 52-week low of $61.53 and a 52-week high of $83.38. The firm’s 50-day moving average is $78.76 and its 200-day moving average is $76.84.
Sensient Technologies (NYSE:SXT) last announced its quarterly earnings data on Friday, February 10th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. Sensient Technologies had a net margin of 9.13% and a return on equity of 16.73%. Equities research analysts predict that Sensient Technologies will post $3.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, February 3rd. Sensient Technologies’s dividend payout ratio is currently 42.70%.
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In related news, Director Hank Brown sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $79.28, for a total value of $158,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.87% of the company’s stock.
Several large investors have recently made changes to their positions in SXT. BlackRock Fund Advisors raised its stake in shares of Sensient Technologies by 5.6% in the third quarter. BlackRock Fund Advisors now owns 2,399,028 shares of the company’s stock worth $181,846,000 after buying an additional 126,423 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Sensient Technologies by 0.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,316,615 shares of the company’s stock worth $99,799,000 after buying an additional 12,143 shares during the last quarter. Northern Trust Corp boosted its position in Sensient Technologies by 0.7% in the third quarter. Northern Trust Corp now owns 1,231,697 shares of the company’s stock worth $93,363,000 after buying an additional 8,978 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its position in Sensient Technologies by 8.5% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 676,448 shares of the company’s stock worth $53,156,000 after buying an additional 53,208 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Sensient Technologies by 35.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 608,132 shares of the company’s stock worth $47,787,000 after buying an additional 159,729 shares during the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.
About Sensient Technologies
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.
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