Pacer Advisors Inc. acquired a new stake in Sensient Technologies Co. (NYSE:SXT) during the second quarter, Holdings Channel reports. The firm acquired 16,832 shares of the specialty chemicals company’s stock, valued at approximately $1,237,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Foresters Investment Management Company Inc. increased its position in shares of Sensient Technologies by 7.1% during the second quarter. Foresters Investment Management Company Inc. now owns 145,600 shares of the specialty chemicals company’s stock valued at $10,699,000 after buying an additional 9,600 shares during the period. Bank of New York Mellon Corp grew its stake in Sensient Technologies by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 683,741 shares of the specialty chemicals company’s stock valued at $50,241,000 after acquiring an additional 26,418 shares in the last quarter. M&T Bank Corp grew its stake in Sensient Technologies by 6.6% during the second quarter. M&T Bank Corp now owns 9,258 shares of the specialty chemicals company’s stock valued at $680,000 after acquiring an additional 575 shares in the last quarter. Bank of Montreal Can grew its stake in Sensient Technologies by 80.4% during the second quarter. Bank of Montreal Can now owns 8,444 shares of the specialty chemicals company’s stock valued at $620,000 after acquiring an additional 3,762 shares in the last quarter. Finally, Wealthsource Partners LLC purchased a new position in Sensient Technologies during the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 96.97% of the company’s stock.
Several brokerages recently commented on SXT. Zacks Investment Research raised shares of Sensient Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, September 7th. TheStreet raised shares of Sensient Technologies from a “c+” rating to a “b-” rating in a research note on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Sensient Technologies presently has a consensus rating of “Buy” and an average target price of $75.00.
NYSE:SXT traded up $0.53 during mid-day trading on Friday, hitting $70.08. 3,101 shares of the stock traded hands, compared to its average volume of 206,677. The business’s 50-day moving average price is $66.22 and its 200 day moving average price is $68.73. The company has a market cap of $2.94 billion, a PE ratio of 19.77 and a beta of 1.01. Sensient Technologies Co. has a 12-month low of $51.93 and a 12-month high of $78.40. The company has a quick ratio of 1.80, a current ratio of 4.17 and a debt-to-equity ratio of 0.73.
Sensient Technologies (NYSE:SXT) last issued its quarterly earnings data on Friday, July 19th. The specialty chemicals company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). Sensient Technologies had a net margin of 10.87% and a return on equity of 16.15%. The firm had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $361.20 million. During the same period in the prior year, the firm posted $0.92 EPS. Sensient Technologies’s revenue was down 6.6% on a year-over-year basis. Analysts anticipate that Sensient Technologies Co. will post 3.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 2nd were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.44 annualized dividend and a yield of 2.05%. Sensient Technologies’s payout ratio is presently 40.56%.
Sensient Technologies Profile
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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