Allianz Asset Management GmbH Sells 46,648 Shares of Sensient Technologies Corporation (NYSE:SXT)

Key Points

• Allianz Asset Management GmbH reduced its stake in Sensient Technologies by 27.5%, resulting in ownership of approximately 0.29% of the company worth $9,147,000.
• Sensient Technologies reported a quarterly earnings per share of $0.94, exceeding analysts' expectations, with revenues of $414.23 million for the quarter.
• The company recently announced a quarterly dividend of $0.41 per share, scheduled for payment on September 2nd, with a current dividend yield of 1.44%.

Allianz Asset Management GmbH lowered its position in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 27.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,895 shares of the specialty chemicals company's stock after selling 46,648 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.29% of Sensient Technologies worth $9,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Sensient Technologies by 132.6% in the 1st quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 248 shares during the last quarter. Principal Financial Group Inc. raised its stake in Sensient Technologies by 2.3% in the first quarter. Principal Financial Group Inc. now owns 220,906 shares of the specialty chemicals company's stock valued at $16,442,000 after buying an additional 5,011 shares during the period. Wells Fargo & Company MN lifted its position in shares of Sensient Technologies by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 55,482 shares of the specialty chemicals company's stock valued at $3,954,000 after buying an additional 6,624 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Sensient Technologies during the 1st quarter worth approximately $224,000. Finally, Invesco Ltd. increased its holdings in shares of Sensient Technologies by 4.0% during the 4th quarter. Invesco Ltd. now owns 185,490 shares of the specialty chemicals company's stock worth $13,218,000 after acquiring an additional 7,148 shares during the last quarter. Institutional investors own 90.86% of the company's stock.

Analyst Upgrades and Downgrades

SXT has been the subject of several research reports. 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 increased their price objective on shares of Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd.

Sensient Technologies Stock Performance

Shares of NYSE:SXT traded down $0.48 during trading on Monday, reaching $112.81. 490,084 shares of the stock were exchanged, compared to its average volume of 353,502. The company has a current ratio of 4.25, a quick ratio of 1.78 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $100.54 and a 200-day moving average price of $85.17. Sensient Technologies Corporation has a 12 month low of $66.14 and a 12 month high of $114.59. The firm has a market cap of $4.79 billion, a PE ratio of 35.59 and a beta of 0.56.

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 (EPS) 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 company had revenue of $414.23 million during the quarter, compared to analysts' expectations of $417.60 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. Sensient Technologies's quarterly revenue was up 2.7% on a year-over-year basis. Research analysts expect that Sensient Technologies Corporation will post 3.1 EPS 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. Shareholders of record on Monday, August 4th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.45%. Sensient Technologies's payout ratio is presently 54.30%.

Insider Activity at Sensient Technologies

In other Sensient Technologies news, Director Mario Ferruzzi sold 1,668 shares of Sensient Technologies stock in a transaction 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 completion of the transaction, the director directly owned 7,946 shares of the company's stock, valued at $758,445.70. The trade was a 17.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

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.