Oak Ridge Investments LLC Buys Shares of 29,640 Sensient Technologies Corporation (NYSE:SXT)

Key Points

• Oak Ridge Investments LLC acquired 29,640 shares of Sensient Technologies, valued at approximately $2.2 million, representing 0.07% ownership of the company.
• Several institutional investors have increased their positions, with Freemont Capital Pte Ltd purchasing a new stake worth about $449 million.
• Sensient Technologies reported an earnings per share (EPS) of $0.94 for the last quarter, exceeding expectations, while also declaring a quarterly dividend of $0.41 per share.

Oak Ridge Investments LLC purchased a new position in shares of Sensient Technologies Corporation (NYSE:SXT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 29,640 shares of the specialty chemicals company's stock, valued at approximately $2,206,000. Oak Ridge Investments LLC owned about 0.07% of Sensient Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Sensient Technologies by 116.0% in the 4th quarter. Franklin Resources Inc. now owns 7,477 shares of the specialty chemicals company's stock valued at $533,000 after purchasing an additional 4,015 shares during the last quarter. Wells Fargo & Company MN increased its holdings 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 valued at $3,954,000 after purchasing an additional 6,624 shares during the last quarter. Bank of Montreal Can increased its holdings in Sensient Technologies by 5.1% in the 4th quarter. Bank of Montreal Can now owns 6,914 shares of the specialty chemicals company's stock valued at $493,000 after purchasing an additional 338 shares during the last quarter. Invesco Ltd. increased its holdings in Sensient Technologies by 4.0% in the 4th 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 last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Sensient Technologies in the 4th quarter valued at approximately $6,483,000. Institutional investors and hedge funds own 90.86% of the company's stock.

Sensient Technologies Stock Up 2.3%

Shares of Sensient Technologies stock traded up $2.62 during trading on Friday, hitting $118.17. 779,818 shares of the stock were exchanged, compared to its average volume of 452,378. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 37.28 and a beta of 0.58. The firm's 50-day moving average price is $106.58 and its 200 day moving average price is $89.39. Sensient Technologies Corporation has a 12-month low of $66.14 and a 12-month high of $121.54. 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 (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 for the quarter, beating analysts' consensus estimates of $0.88 by $0.06. Sensient Technologies had a net margin of 8.56% and a return on equity of 12.56%. The firm had revenue of $414.23 million during the quarter, compared to analysts' expectations of $417.60 million. During the same period in the previous year, the company earned $0.77 earnings per share. Sensient Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts forecast that Sensient Technologies Corporation will post 3.1 earnings per share for the current fiscal year.

Sensient Technologies Dividend Announcement

The firm also recently announced 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 4th. Sensient Technologies's dividend payout ratio is presently 51.74%.

Analyst Upgrades and Downgrades

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

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.