Sensient Technologies Corporation (NYSE:SXT) Position Lifted 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. boosted its holdings in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 248.1% during the first quarter, according to the company in its most recent 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 0.06% of Sensient Technologies worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SXT. GAMMA Investing LLC grew its holdings in shares of Sensient Technologies by 132.6% during the first quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 248 shares in the last quarter. Principal Financial Group Inc. boosted its position in Sensient Technologies by 2.3% during the first quarter. Principal Financial Group Inc. now owns 220,906 shares of the specialty chemicals company's stock worth $16,442,000 after acquiring an additional 5,011 shares during the last quarter. Wells Fargo & Company MN grew its stake in Sensient Technologies by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 55,482 shares of the specialty chemicals company's stock worth $3,954,000 after acquiring an additional 6,624 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Sensient Technologies during the first quarter worth $224,000. Finally, Invesco Ltd. grew its position in shares of Sensient Technologies by 4.0% in the fourth quarter. Invesco Ltd. now owns 185,490 shares of the specialty chemicals company's stock valued at $13,218,000 after purchasing an additional 7,148 shares during the period. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Sensient Technologies news, Director Mario Ferruzzi sold 1,668 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $95.45, for a total value of $159,210.60. Following the completion of the sale, the director owned 7,946 shares of the company's stock, valued at $758,445.70. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Sensient Technologies Trading Down 0.7%

SXT stock traded down $0.80 during midday trading on Friday, reaching $111.49. 488,575 shares of the company's stock traded hands, compared to its average volume of 417,714. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.25 and a quick ratio of 1.78. Sensient Technologies Corporation has a fifty-two week low of $66.14 and a fifty-two week high of $114.59. The business has a 50-day moving average price of $101.94 and a two-hundred day moving average price of $86.14. The company has a market capitalization of $4.73 billion, a P/E ratio of 35.17 and a beta of 0.58.

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

Sensient Technologies Dividend Announcement

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

Sensient Technologies 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.