Eagle Asset Management Inc. reduced its holdings in shares of Sensient Technologies Co. (NYSE:SXT) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 887,107 shares of the specialty chemicals company’s stock after selling 2,647 shares during the period. Eagle Asset Management Inc. owned about 2.10% of Sensient Technologies worth $60,899,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of SXT. Krane Funds Advisors LLC acquired a new position in Sensient Technologies in the second quarter valued at about $58,000. HM Payson & Co. bought a new stake in shares of Sensient Technologies during the second quarter worth approximately $147,000. Point72 Hong Kong Ltd bought a new stake in shares of Sensient Technologies during the second quarter worth approximately $172,000. Stanley Laman Group Ltd. bought a new stake in shares of Sensient Technologies during the second quarter worth approximately $196,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sensient Technologies by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,713 shares of the specialty chemicals company’s stock worth $186,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.
Several equities research analysts have commented on SXT shares. Sidoti started coverage on shares of Sensient Technologies in a research note on Tuesday, September 24th. They issued a “neutral” rating for the company. Seaport Global Securities downgraded shares of Sensient Technologies from a “buy” rating to a “neutral” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research downgraded shares of Sensient Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Sensient Technologies presently has an average rating of “Hold” and an average target price of $73.25.
Sensient Technologies (NYSE:SXT) last released its quarterly earnings results on Friday, October 18th. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The company had revenue of $317.70 million during the quarter, compared to analyst estimates of $344.11 million. Sensient Technologies had a net margin of 9.92% and a return on equity of 14.98%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. Equities analysts anticipate that Sensient Technologies Co. will post 2.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, November 1st. This is a boost from Sensient Technologies’s previous quarterly dividend of $0.36. Sensient Technologies’s dividend payout ratio is 43.94%.
Sensient Technologies Company Profile
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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