State of Alaska Department of Revenue Sells 566 Shares of Sensient Technologies Corporation (NYSE:SXT)

State of Alaska Department of Revenue reduced its holdings in shares of Sensient Technologies Corporation (NYSE:SXT) by 2.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,472 shares of the specialty chemicals company’s stock after selling 566 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Sensient Technologies worth $1,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SXT. State of New Jersey Common Pension Fund D raised its position in Sensient Technologies by 4.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,458 shares of the specialty chemicals company’s stock valued at $1,957,000 after purchasing an additional 1,081 shares in the last quarter. Principal Financial Group Inc. raised its position in Sensient Technologies by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 215,895 shares of the specialty chemicals company’s stock valued at $15,385,000 after purchasing an additional 6,984 shares in the last quarter. Olympiad Research LP raised its position in Sensient Technologies by 22.5% during the 4th quarter. Olympiad Research LP now owns 3,806 shares of the specialty chemicals company’s stock valued at $271,000 after purchasing an additional 698 shares in the last quarter. Robeco Schweiz AG raised its position in Sensient Technologies by 34.9% during the 4th quarter. Robeco Schweiz AG now owns 158,329 shares of the specialty chemicals company’s stock valued at $11,283,000 after purchasing an additional 40,989 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Sensient Technologies during the 4th quarter valued at $1,143,000. 90.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SXT shares. Wall Street Zen lowered Sensient Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. CJS Securities started coverage on Sensient Technologies in a report on Tuesday, June 10th. They issued a “market perform” rating and a $95.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Sensient Technologies from $85.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, April 28th.

Insider Activity

In related news, Director Mario Ferruzzi sold 1,668 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $95.45, for a total value of $159,210.60. Following the completion of the transaction, the director now owns 7,946 shares of the company’s stock, valued at approximately $758,445.70. This represents a 17.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Sensient Technologies Stock Up 2.5%

Shares of SXT stock opened at $98.34 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.34 and a quick ratio of 1.74. The stock’s fifty day moving average price is $91.66 and its 200 day moving average price is $79.61. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 32.56 and a beta of 0.56. Sensient Technologies Corporation has a 1-year low of $66.15 and a 1-year high of $98.50.

Sensient Technologies (NYSE:SXT) last posted its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $392.33 million for the quarter, compared to the consensus estimate of $387.70 million. Sensient Technologies had a return on equity of 12.14% and a net margin of 8.19%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. On average, research analysts expect that Sensient Technologies Corporation will post 3.1 earnings per share for the current fiscal year.

Sensient Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a $0.41 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.64 annualized dividend and a dividend yield of 1.67%. Sensient Technologies’s dividend payout ratio (DPR) is presently 54.30%.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.