Sensient Technologies Corporation (NYSE:SXT) Shares Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. increased its stake in Sensient Technologies by 248.1%, acquiring an additional 17,157 shares to hold a total of 24,073 shares worth approximately $1.79 million.
• Sensient Technologies recently declared a quarterly dividend of $0.41 per share, set to be paid on September 2nd, representing an annualized yield of 1.47%.
• The company reported earnings of $0.94 per share for the latest quarter, surpassing analyst expectations and indicating a 2.7% revenue growth compared to the previous year.

Envestnet Asset Management Inc. increased its stake in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 248.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,073 shares of the specialty chemicals company's stock after acquiring an additional 17,157 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Sensient Technologies worth $1,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in Sensient Technologies by 132.6% in the first quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 248 shares in the last quarter. Quarry LP purchased a new stake in Sensient Technologies in the fourth quarter worth about $50,000. Covestor Ltd lifted its holdings in shares of Sensient Technologies by 49.4% during 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. State of Wyoming boosted its position in shares of Sensient Technologies by 52.9% in the 4th quarter. State of Wyoming now owns 1,913 shares of the specialty chemicals company's stock worth $136,000 after purchasing an additional 662 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Sensient Technologies in the 4th quarter worth approximately $155,000. 90.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SXT. CJS Securities started coverage on Sensient Technologies in a report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 price target for the company. Robert W. Baird lifted their target price on Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd.

Insider Activity at Sensient Technologies

In related news, Director Mario Ferruzzi sold 1,668 shares of Sensient Technologies stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $95.45, for a total transaction of $159,210.60. Following the completion of the sale, the director owned 7,946 shares in the company, valued at $758,445.70. This trade represents a 17.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Sensient Technologies Price Performance

Shares of NYSE SXT traded down $0.80 during midday trading on Friday, reaching $111.49. 488,575 shares of the stock traded hands, compared to its average volume of 417,714. Sensient Technologies Corporation has a one year low of $66.14 and a one year high of $114.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.25 and a quick ratio of 1.78. The company's 50 day moving average is $102.29 and its 200 day moving average is $86.53. The stock has a market capitalization of $4.73 billion, a PE ratio of 35.17 and a beta of 0.58.

Sensient Technologies (NYSE:SXT - Get Free Report) last announced its earnings results on Friday, July 25th. The specialty chemicals company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. Sensient Technologies had a net margin of 8.56% and a return on equity of 12.56%. The business had revenue of $414.23 million for the quarter, compared to the consensus estimate of $417.60 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Sensient Technologies Corporation will post 3.1 earnings per share for the current year.

Sensient Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be issued a $0.41 dividend. The ex-dividend date is Monday, August 4th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.5%. Sensient Technologies's dividend payout ratio is presently 51.74%.

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.