California State Teachers Retirement System lessened its stake in shares of Sensient Technologies Corporation (NYSE:SXT) by 9.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,913 shares of the specialty chemicals company’s stock after selling 7,605 shares during the quarter. California State Teachers Retirement System owned 0.16% of Sensient Technologies worth $5,455,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sensient Technologies by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,774 shares of the specialty chemicals company’s stock valued at $143,000 after buying an additional 139 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Sensient Technologies by 118.2% during the second quarter. Acrospire Investment Management LLC now owns 2,584 shares of the specialty chemicals company’s stock valued at $208,000 after purchasing an additional 1,400 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Sensient Technologies by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,825 shares of the specialty chemicals company’s stock valued at $227,000 after purchasing an additional 119 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Sensient Technologies during the third quarter valued at approximately $231,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Sensient Technologies by 4.6% during the second quarter. PNC Financial Services Group Inc. now owns 3,384 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 88.26% of the company’s stock.
SXT has been the subject of several recent research reports. KeyCorp reaffirmed a “buy” rating and set a $90.00 target price on shares of Sensient Technologies in a report on Friday, November 3rd. Off Wall Street began coverage on Sensient Technologies in a report on Monday, December 18th. They issued a “sell” rating for the company. Zacks Investment Research raised Sensient Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Berenberg Bank began coverage on Sensient Technologies in a report on Friday, September 22nd. They issued a “buy” rating and a $88.30 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $89.15.
Shares of Sensient Technologies Corporation (NYSE SXT) opened at $73.15 on Tuesday. The firm has a market capitalization of $3,180.26, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.59 and a quick ratio of 1.42. Sensient Technologies Corporation has a 52-week low of $71.21 and a 52-week high of $84.98.
Sensient Technologies (NYSE:SXT) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sensient Technologies had a return on equity of 17.34% and a net margin of 7.89%. The company had revenue of $353.52 million during the quarter. During the same quarter last year, the company posted $0.83 EPS. equities analysts predict that Sensient Technologies Corporation will post 3.41 EPS for the current fiscal year.
Sensient Technologies announced that its board has initiated a share buyback plan on Thursday, October 19th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Sensient Technologies Company Profile
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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