Zacks Investment Research Downgrades Sensient Technologies Corp. (SXT) to Hold
Sensient Technologies Corp. (NYSE:SXT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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) “
SXT has been the subject of several other research reports. Sidoti started coverage on Sensient Technologies Corp. in a research report on Friday, September 2nd. They set a “neutral” rating for the company. Gabelli cut Sensient Technologies Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.75.
Shares of Sensient Technologies Corp. (NYSE:SXT) opened at 75.89 on Tuesday. Sensient Technologies Corp. has a 52-week low of $52.69 and a 52-week high of $75.96. The company has a 50-day moving average price of $74.33 and a 200-day moving average price of $69.82. The company has a market cap of $3.40 billion, a P/E ratio of 32.23 and a beta of 1.02.
Sensient Technologies Corp. (NYSE:SXT) last released its earnings results on Friday, July 22nd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. Sensient Technologies Corp. had a return on equity of 16.08% and a net margin of 7.65%. The firm earned $360.80 million during the quarter, compared to analysts’ expectations of $348.80 million. During the same quarter last year, the business posted $0.80 earnings per share. On average, equities analysts predict that Sensient Technologies Corp. will post $3.23 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, August 3rd. Sensient Technologies Corp.’s dividend payout ratio is presently 45.96%.
In other Sensient Technologies Corp. news, Director Essie Whitelaw sold 1,269 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $74.00, for a total transaction of $93,906.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.87% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Sensient Technologies Corp. by 0.4% in the first quarter. State Street Corp now owns 1,415,860 shares of the company’s stock worth $89,848,000 after buying an additional 5,611 shares during the period. Miles Capital Inc. bought a new position in shares of Sensient Technologies Corp. during the first quarter worth approximately $259,000. M&T Bank Corp bought a new position in shares of Sensient Technologies Corp. during the first quarter worth approximately $400,000. Royce & Associates LP boosted its position in shares of Sensient Technologies Corp. by 5.9% in the first quarter. Royce & Associates LP now owns 49,849 shares of the company’s stock worth $3,163,000 after buying an additional 2,761 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its position in shares of Sensient Technologies Corp. by 16.1% in the first quarter. Palisade Capital Management LLC NJ now owns 224,052 shares of the company’s stock worth $14,218,000 after buying an additional 31,069 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.
Sensient Technologies Corp. 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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