Skandinaviska Enskilda Banken AB publ Makes New $379,000 Investment in Sensient Technologies Corporation (NYSE:SXT)

Key Points

• Skandinaviska Enskilda Banken AB has bought 5,091 shares of Sensient Technologies, investing approximately $379,000, marking a new position for the bank in the specialty chemicals company.
• In its latest earnings report, Sensient Technologies beat analysts' EPS estimates by $0.06, reporting $0.94 earnings per share, along with a 2.7% year-over-year revenue increase.
• Sensient Technologies announced a quarterly dividend of $0.41 per share, to be paid on September 2nd, representing a 1.47% dividend yield based on the current stock price.

Skandinaviska Enskilda Banken AB publ bought a new position in shares of Sensient Technologies Corporation (NYSE:SXT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 5,091 shares of the specialty chemicals company's stock, valued at approximately $379,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 acquiring an additional 248 shares during the period. Quarry LP bought a new stake in Sensient Technologies in the 4th quarter valued at about $50,000. Covestor Ltd raised its stake in Sensient Technologies by 49.4% in the 4th quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company's stock valued at $66,000 after acquiring an additional 304 shares during the period. State of Wyoming raised its stake in Sensient Technologies by 52.9% in 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 Sensient Technologies by 8.6% in the 1st quarter. CWM LLC now owns 1,894 shares of the specialty chemicals company's stock valued at $141,000 after acquiring an additional 150 shares during the period. 90.86% of the stock is currently owned by institutional investors.

Sensient Technologies Price Performance

Shares of NYSE SXT traded down $0.80 during midday trading on Friday, hitting $111.49. 488,575 shares of the company's stock were exchanged, compared to its average volume of 417,714. Sensient Technologies Corporation has a 12-month low of $66.14 and a 12-month high of $114.59. 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 company has a market cap of $4.73 billion, a price-to-earnings ratio of 35.17 and a beta of 0.58. The business's fifty day moving average price is $102.29 and its two-hundred day moving average price is $86.43.

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

Sensient Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SXT. Robert W. Baird lifted their target price on Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. CJS Securities began coverage on Sensient Technologies in a report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 target price for the company.

Insiders Place Their Bets

In related news, Director Mario Ferruzzi sold 1,668 shares of the company'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 transaction of $159,210.60. Following the completion of the transaction, the director owned 7,946 shares in the company, valued at $758,445.70. This 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 this hyperlink. Insiders own 1.20% of the company's stock.

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.