Sensient Technologies Corporation $SXT Shares Bought by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Sensient Technologies by 57.1%, owning approximately 1.29% of the company, valued at $40.9 million as of the latest SEC filing.
• Robert W. Baird has raised the target price for Sensient Technologies from $93.00 to $125.00, signaling an "outperform" rating for the stock.
• Sensient Technologies announced a quarterly dividend of $0.41 per share, which will be paid on September 2nd, representing an annualized yield of 1.4%.

Armistice Capital LLC lifted its stake in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 549,827 shares of the specialty chemicals company's stock after purchasing an additional 199,827 shares during the period. Armistice Capital LLC owned 1.29% of Sensient Technologies worth $40,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SXT. 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 worth $32,000 after acquiring an additional 248 shares in the last quarter. Quarry LP bought a new position in Sensient Technologies in the fourth quarter valued at about $50,000. Russell Investments Group Ltd. lifted its holdings in Sensient Technologies by 52.5% in the first quarter. Russell Investments Group Ltd. now owns 1,257 shares of the specialty chemicals company's stock valued at $94,000 after acquiring an additional 433 shares during the period. State of Wyoming grew its position in shares of Sensient Technologies by 52.9% during the 4th quarter. State of Wyoming now owns 1,913 shares of the specialty chemicals company's stock valued at $136,000 after acquiring an additional 662 shares during the period. Finally, CWM LLC raised its stake in shares of Sensient Technologies by 8.6% in the first quarter. CWM LLC now owns 1,894 shares of the specialty chemicals company's stock worth $141,000 after buying an additional 150 shares during the period. 90.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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. Robert W. Baird raised their price target on Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Sensient Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $110.00.

Sensient Technologies Stock Up 1.1%

Shares of SXT traded up $1.18 during mid-day trading on Wednesday, hitting $113.14. 332,059 shares of the company traded hands, compared to its average volume of 507,023. The company has a quick ratio of 1.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $110.87 and a 200 day moving average of $92.57. The company has a market capitalization of $4.80 billion, a PE ratio of 35.69 and a beta of 0.57. Sensient Technologies Corporation has a 1-year low of $66.14 and a 1-year high of $121.54.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted its quarterly 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. The business had revenue of $414.23 million for the quarter, compared to the consensus estimate of $417.60 million. Sensient Technologies had a return on equity of 12.56% and a net margin of 8.56%.The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. Sensient Technologies has set its FY 2025 guidance at 3.130-3.230 EPS. Equities research analysts anticipate that Sensient Technologies Corporation will post 3.1 EPS for the current year.

Sensient Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 4th. Sensient Technologies's payout ratio is 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.