Sensient Technologies Corporation (SXT) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in Sensient Technologies Corporation (NYSE:SXT) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 304,694 shares of the specialty chemicals company’s stock after buying an additional 14,917 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.70% of Sensient Technologies worth $23,438,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sensient Technologies by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,774 shares of the specialty chemicals company’s stock valued at $143,000 after purchasing an additional 139 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Sensient Technologies by 118.2% in 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 in the last quarter. World Asset Management Inc boosted its holdings in shares of Sensient Technologies by 1.1% in the second quarter. World Asset Management Inc now owns 2,769 shares of the specialty chemicals company’s stock valued at $223,000 after acquiring an additional 30 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Sensient Technologies by 4.4% in 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 acquiring an additional 119 shares during the period. Finally, FDx Advisors Inc. acquired a new stake in shares of Sensient Technologies in the third quarter valued at approximately $231,000. Institutional investors own 90.17% of the company’s stock.
SXT has been the subject of several research analyst reports. KeyCorp reissued a “buy” rating and issued a $90.00 price objective on shares of Sensient Technologies in a report on Thursday, August 24th. Zacks Investment Research raised Sensient Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Finally, Berenberg Bank initiated coverage on Sensient Technologies in a research note on Friday, September 22nd. They set a “buy” rating and a $88.30 price target for the company.
Sensient Technologies (NYSE:SXT) last released its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $353.52 million for the quarter. Sensient Technologies had a return on equity of 17.34% and a net margin of 7.89%. During the same period in the prior year, the firm earned $0.83 earnings per share. sell-side analysts anticipate that Sensient Technologies Corporation will post 3.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 6th were issued a dividend of $0.33 per share. This is an increase from Sensient Technologies’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Friday, November 3rd. Sensient Technologies’s dividend payout ratio (DPR) is presently 54.55%.
Sensient Technologies announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 19th that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, Director Fergus M. Clydesdale sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $76.00, for a total transaction of $152,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Essie Whitelaw sold 1,520 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $75.00, for a total value of $114,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,187 shares of company stock worth $316,125. Company insiders own 0.95% of the company’s stock.
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About Sensient Technologies
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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