Victory Capital Management Inc. grew its stake in shares of Sensient Technologies Co. (NYSE:SXT) by 104.8% during the 4th quarter, HoldingsChannel reports. The fund owned 390,646 shares of the specialty chemicals company’s stock after buying an additional 199,921 shares during the period. Victory Capital Management Inc.’s holdings in Sensient Technologies were worth $28,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of SXT. Atlanta Capital Management Co. L L C purchased a new stake in shares of Sensient Technologies during the third quarter worth $21,336,000. Wells Fargo & Company MN lifted its position in shares of Sensient Technologies by 18.4% during the third quarter. Wells Fargo & Company MN now owns 546,199 shares of the specialty chemicals company’s stock worth $42,014,000 after acquiring an additional 84,767 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Sensient Technologies by 153.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 125,294 shares of the specialty chemicals company’s stock worth $10,090,000 after acquiring an additional 75,874 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Sensient Technologies by 1.6% during the third quarter. Neuberger Berman Group LLC now owns 3,986,590 shares of the specialty chemicals company’s stock worth $306,648,000 after acquiring an additional 63,383 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Sensient Technologies by 4.2% during the second quarter. State Street Corp now owns 1,488,505 shares of the specialty chemicals company’s stock worth $119,869,000 after acquiring an additional 60,015 shares in the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
In related news, Director Essie Whitelaw sold 667 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $75.15, for a total value of $50,125.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.95% of the company’s stock.
Sensient Technologies (NYSE:SXT) last issued its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.84 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.84. Sensient Technologies had a return on equity of 17.34% and a net margin of 7.89%. The company had revenue of $328.87 million for the quarter. analysts expect that Sensient Technologies Co. will post 3.41 EPS for the current fiscal year.
Sensient Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, October 19th that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be given a $0.33 dividend. The ex-dividend date is Monday, February 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.94%. Sensient Technologies’s dividend payout ratio (DPR) is presently 54.55%.
SXT has been the topic of several recent research reports. KeyCorp restated a “buy” rating and set a $90.00 target price on shares of Sensient Technologies in a research report on Friday, November 3rd. Off Wall Street initiated coverage on Sensient Technologies in a research report on Monday, December 18th. They issued a “sell” rating on the stock. Finally, TheStreet downgraded Sensient Technologies from a “b” rating to a “c+” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Sensient Technologies has a consensus rating of “Hold” and a consensus target price of $89.15.
Sensient Technologies 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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