Foresters Investment Management Company Inc. boosted its stake in Sensient Technologies Co. (NYSE:SXT) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,600 shares of the specialty chemicals company’s stock after buying an additional 9,600 shares during the quarter. Foresters Investment Management Company Inc. owned approximately 0.34% of Sensient Technologies worth $10,699,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Sensient Technologies by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 683,741 shares of the specialty chemicals company’s stock valued at $50,241,000 after buying an additional 26,418 shares in the last quarter. M&T Bank Corp boosted its stake in Sensient Technologies by 6.6% in the 2nd quarter. M&T Bank Corp now owns 9,258 shares of the specialty chemicals company’s stock valued at $680,000 after buying an additional 575 shares in the last quarter. Bank of Montreal Can boosted its stake in Sensient Technologies by 80.4% in the 2nd quarter. Bank of Montreal Can now owns 8,444 shares of the specialty chemicals company’s stock valued at $620,000 after buying an additional 3,762 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in Sensient Technologies in the 2nd quarter valued at $201,000. Finally, Prudential Financial Inc. boosted its stake in Sensient Technologies by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 28,625 shares of the specialty chemicals company’s stock valued at $2,103,000 after buying an additional 1,640 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SXT traded up $0.29 on Friday, reaching $69.84. The company’s stock had a trading volume of 5,487 shares, compared to its average volume of 206,677. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.80 and a current ratio of 4.17. The firm has a market cap of $2.94 billion, a PE ratio of 19.67 and a beta of 1.01. The business’s 50-day moving average price is $66.22 and its two-hundred day moving average price is $68.73. Sensient Technologies Co. has a 1-year low of $51.93 and a 1-year high of $78.40.
Sensient Technologies (NYSE:SXT) last posted its quarterly earnings data on Friday, July 19th. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $339.20 million for the quarter, compared to analyst estimates of $361.20 million. Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, sell-side analysts expect that Sensient Technologies Co. will post 3.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. Sensient Technologies’s dividend payout ratio is currently 40.56%.
Several brokerages recently commented on SXT. TheStreet raised Sensient Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, June 18th. Zacks Investment Research upgraded Sensient Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, September 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.00.
About Sensient Technologies
Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and fragrances in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Fragrances Group, Color Group, and Asia Pacific Group.
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