Sensient Technologies (NYSE:SXT) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Sensient Technologies (NYSE:SXT) from a buy rating to a hold rating in a research note released on Saturday.

Sensient Technologies Trading Down 1.8 %

Shares of Sensient Technologies stock opened at $72.75 on Friday. Sensient Technologies has a 12-month low of $66.15 and a 12-month high of $82.99. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.08 billion, a PE ratio of 24.74 and a beta of 0.71. The company has a 50-day moving average of $73.10 and a two-hundred day moving average of $75.16.

Sensient Technologies (NYSE:SXT) last issued its earnings results on Friday, February 14th. The specialty chemicals company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. The company had revenue of $376.40 million during the quarter, compared to analysts’ expectations of $375.10 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Sensient Technologies will post 3.1 EPS for the current fiscal year.

Sensient Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 4th were issued a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.64 dividend on an annualized basis and a yield of 2.25%. Sensient Technologies’s dividend payout ratio (DPR) is presently 55.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its position in shares of Sensient Technologies by 4.8% in the third quarter. Franklin Resources Inc. now owns 3,462 shares of the specialty chemicals company’s stock valued at $270,000 after purchasing an additional 160 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Sensient Technologies by 4.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,408 shares of the specialty chemicals company’s stock valued at $314,000 after purchasing an additional 203 shares during the last quarter. Versor Investments LP grew its position in shares of Sensient Technologies by 5.1% in the fourth quarter. Versor Investments LP now owns 4,521 shares of the specialty chemicals company’s stock valued at $322,000 after purchasing an additional 221 shares during the last quarter. Xponance Inc. grew its position in shares of Sensient Technologies by 9.5% in the fourth quarter. Xponance Inc. now owns 3,017 shares of the specialty chemicals company’s stock valued at $215,000 after purchasing an additional 261 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Sensient Technologies by 49.4% in the fourth quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 304 shares during the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

Sensient Technologies Company Profile

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.