Sensient Technologies Corporation (NYSE:SXT) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its stake in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 65.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,745 shares of the specialty chemicals company's stock after selling 25,824 shares during the quarter. M&T Bank Corp's holdings in Sensient Technologies were worth $1,023,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 248 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Sensient Technologies by 18,766.7% during the fourth quarter. Jones Financial Companies Lllp now owns 566 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 563 shares during the last quarter. Quarry LP purchased a new stake in Sensient Technologies during the fourth quarter worth approximately $50,000. Covestor Ltd lifted its stake in Sensient Technologies by 49.4% during the fourth quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company's stock worth $66,000 after purchasing an additional 304 shares during the last quarter. Finally, State of Wyoming lifted its stake in Sensient Technologies by 52.9% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 90.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen cut Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Robert W. Baird boosted their price objective on Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Finally, CJS Securities assumed coverage on Sensient Technologies in a research note on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 price objective for the company.

Sensient Technologies Stock Performance

NYSE SXT traded down $0.15 on Friday, reaching $109.37. The stock had a trading volume of 94,484 shares, compared to its average volume of 252,462. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 4.34. Sensient Technologies Corporation has a 12-month low of $66.15 and a 12-month high of $111.30. The business's 50-day moving average price is $98.67 and its 200 day moving average price is $83.34. The stock has a market cap of $4.64 billion, a P/E ratio of 36.18 and a beta of 0.56.

Sensient Technologies (NYSE:SXT - Get Free Report) last released its earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $392.33 million for the quarter, compared to analyst estimates of $387.70 million. Sensient Technologies had a return on equity of 12.14% and a net margin of 8.19%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, equities analysts expect that Sensient Technologies Corporation will post 3.1 earnings per share for the current year.

Sensient Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, May 12th. Sensient Technologies's payout ratio is currently 54.30%.

Insider Activity

In other news, Director Mario Ferruzzi sold 1,668 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $95.45, for a total value of $159,210.60. Following the transaction, the director owned 7,946 shares of the company's stock, valued at approximately $758,445.70. The trade was a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

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.