Sensient Technologies Co. (SXT) Receives Consensus Rating of “Buy” from Brokerages
Sensient Technologies Co. (NYSE:SXT) has received an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Sensient Technologies’ rating score has declined by 19.8% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a one year consensus price target of $90.00 for the company and are predicting that the company will post $0.84 EPS for the current quarter, according to Zacks. Zacks has also given Sensient Technologies an industry rank of 180 out of 265 based on the ratings given to related companies.
Several analysts have issued reports on SXT shares. KeyCorp reissued a “buy” rating and set a $90.00 price target on shares of Sensient Technologies in a report on Friday, November 3rd. Off Wall Street started coverage on Sensient Technologies in a report on Monday, December 18th. They set a “sell” rating for the company.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, February 5th. Sensient Technologies’s dividend payout ratio (DPR) is 54.55%.
Sensient Technologies declared that its board has authorized a share repurchase program on Thursday, October 19th that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Essie Whitelaw sold 667 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $75.15, for a total value of $50,125.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.95% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SXT. Teachers Advisors LLC boosted its stake in shares of Sensient Technologies by 6.9% in the second quarter. Teachers Advisors LLC now owns 80,395 shares of the specialty chemicals company’s stock worth $6,474,000 after acquiring an additional 5,203 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Sensient Technologies by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 119,293 shares of the specialty chemicals company’s stock worth $9,607,000 after acquiring an additional 538 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Sensient Technologies by 3.9% in the second quarter. Ameriprise Financial Inc. now owns 129,646 shares of the specialty chemicals company’s stock worth $10,441,000 after acquiring an additional 4,827 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Sensient Technologies by 4.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,384 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 149 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Sensient Technologies by 2.0% in the second quarter. New York State Common Retirement Fund now owns 55,433 shares of the specialty chemicals company’s stock worth $4,464,000 after acquiring an additional 1,099 shares during the period. 88.36% of the stock is owned by hedge funds and other institutional investors.
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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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