Sensient Technologies (NYSE:SXT) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “
Separately, TheStreet raised shares of Sensient Technologies from a c+ rating to a b- rating in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Sensient Technologies currently has a consensus rating of Buy and an average price target of $75.00.
Sensient Technologies (NYSE:SXT) last issued its quarterly earnings results on Friday, July 19th. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The company had revenue of $339.20 million during the quarter, compared to the consensus estimate of $361.20 million. Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. Sensient Technologies’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. As a group, equities research analysts expect that Sensient Technologies will post 3.19 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 1st. Sensient Technologies’s payout ratio is 40.56%.
Several large investors have recently modified their holdings of SXT. Krane Funds Advisors LLC purchased a new stake in shares of Sensient Technologies in the 2nd quarter valued at $58,000. HM Payson & Co. purchased a new stake in shares of Sensient Technologies in the 2nd quarter valued at $147,000. Point72 Hong Kong Ltd purchased a new stake in shares of Sensient Technologies in the 2nd quarter valued at $172,000. Stanley Laman Group Ltd. purchased a new stake in shares of Sensient Technologies in the 2nd quarter valued at $196,000. Finally, Wealthsource Partners LLC purchased a new stake in shares of Sensient Technologies in the 2nd quarter valued at $201,000. 96.94% of the stock is currently owned by hedge funds and other institutional investors.
About Sensient Technologies
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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