Thornburg Investment Management Inc. Sells 12,053 Shares of Sensient Technologies Corporation (NYSE:SXT)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Sensient Technologies by 7.2%, selling 12,053 shares and owning approximately $11.65 million worth of stock as of its latest SEC filing.
• Several institutional investors have recently increased their positions in Sensient Technologies, with GAMMA Investing LLC boosting its stake by 132.6% during the first quarter.
• Sensient Technologies recently announced a quarterly dividend of $0.41, representing an annualized yield of 1.45%, with the payout set for September 2nd.

Thornburg Investment Management Inc. lowered its position in Sensient Technologies Corporation (NYSE:SXT - Free Report) by 7.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 156,493 shares of the specialty chemicals company's stock after selling 12,053 shares during the period. Thornburg Investment Management Inc. owned 0.37% of Sensient Technologies worth $11,648,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Sensient Technologies by 132.6% in the 1st 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 period. Quarry LP acquired a new position in shares of Sensient Technologies during the 4th quarter valued at $50,000. Covestor Ltd lifted its position in shares of Sensient Technologies by 49.4% during 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. CWM LLC lifted its position in shares of Sensient Technologies by 8.6% during 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. Finally, State of Wyoming lifted 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. Institutional investors and hedge funds own 90.86% of the company's stock.

Insider Buying and Selling

In other Sensient Technologies news, Director Mario Ferruzzi sold 1,668 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $95.45, for a total transaction of $159,210.60. Following the completion of the sale, the director owned 7,946 shares in the company, valued at approximately $758,445.70. The trade was a 17.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Sensient Technologies Stock Down 0.7%

SXT stock traded down $0.80 during midday trading on Friday, reaching $111.49. 488,575 shares of the company's stock traded hands, compared to its average volume of 417,714. 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 firm's fifty day moving average price is $102.29 and its 200-day moving average price is $86.43. The company has a quick ratio of 1.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.61. Sensient Technologies Corporation has a 52 week low of $66.14 and a 52 week high of $114.59.

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

Sensient Technologies Announces Dividend

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

Analysts Set New Price Targets

SXT has been the topic of a number of research reports. Robert W. Baird boosted their target price 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. CJS Securities initiated coverage on shares of Sensient Technologies in a research report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 target price on the 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.