Comerica Bank Has $1.67 Million Position in Sensient Technologies Co. (NYSE:SXT)

Comerica Bank reduced its stake in Sensient Technologies Co. (NYSE:SXTGet Rating) by 3.8% during the first quarter, HoldingsChannel reports. The firm owned 19,610 shares of the specialty chemicals company’s stock after selling 776 shares during the quarter. Comerica Bank’s holdings in Sensient Technologies were worth $1,667,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SXT. Covestor Ltd acquired a new stake in shares of Sensient Technologies in the 4th quarter valued at approximately $26,000. CWM LLC bought a new stake in Sensient Technologies during the 4th quarter worth approximately $82,000. Ellevest Inc. increased its position in Sensient Technologies by 22.6% in the 1st quarter. Ellevest Inc. now owns 1,027 shares of the specialty chemicals company’s stock valued at $86,000 after acquiring an additional 189 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Sensient Technologies during the first quarter valued at $121,000. Finally, Exane Derivatives lifted its holdings in shares of Sensient Technologies by 39.4% during the fourth quarter. Exane Derivatives now owns 1,333 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 377 shares during the period. 87.16% of the stock is currently owned by institutional investors and hedge funds.

Sensient Technologies Stock Performance

NYSE SXT opened at $83.39 on Tuesday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 25.66 and a beta of 0.86. Sensient Technologies Co. has a twelve month low of $72.75 and a twelve month high of $106.32. The stock has a fifty day simple moving average of $81.54 and a 200 day simple moving average of $82.73. The company has a quick ratio of 1.40, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

Sensient Technologies (NYSE:SXTGet Rating) last posted its quarterly earnings data on Friday, July 22nd. The specialty chemicals company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $371.70 million during the quarter, compared to the consensus estimate of $358.70 million. Sensient Technologies had a return on equity of 14.96% and a net margin of 9.69%. Sensient Technologies’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share.

Sensient Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, July 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.97%. Sensient Technologies’s payout ratio is 50.46%.

Insiders Place Their Bets

In other Sensient Technologies news, major shareholder Winder Investment Pte Ltd purchased 50,000 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was purchased at an average cost of $85.34 per share, for a total transaction of $4,267,000.00. Following the acquisition, the insider now owns 5,734,001 shares in the company, valued at approximately $489,339,645.34. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders acquired 366,173 shares of company stock worth $30,756,294. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, assumed coverage on Sensient Technologies in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Sensient Technologies Profile

(Get Rating)

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Extracts Group, Color Group, and Asia Pacific Group.

Further Reading

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Institutional Ownership by Quarter for Sensient Technologies (NYSE:SXT)

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