Sensient Technologies (NYSE:SXT) Shares Gap Down - What's Next?

Key Points

• Sensient Technologies' shares gapped down from a previous close of $110.00 to an opening price of $102.51 on Friday, last trading at $109.53 with 84,882 shares exchanged.
• The company reported an earnings per share (EPS) of $0.94, exceeding analysts' expectations of $0.88, and generated revenue of $414.23 million during the last quarter.
• Sensient Technologies announced a quarterly dividend of $0.41 per share, with a current dividend yield of 1.46% expected to be paid on September 2nd.
• Over 90% of Sensient's stock is owned by institutional investors, highlighting significant interest in the company from large financial entities.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $110.00, but opened at $102.51. Sensient Technologies shares last traded at $109.53, with a volume of 84,882 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on SXT shares. Robert W. Baird upped their price objective 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 assumed coverage on shares of Sensient Technologies in a research note on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 price target on the stock.

Sensient Technologies Price Performance

The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 35.37 and a beta of 0.56. 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's 50 day simple moving average is $100.91 and its 200-day simple moving average is $85.48.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted its earnings results on Friday, July 25th. The specialty chemicals company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.06. The firm had revenue of $414.23 million during the quarter, compared to analysts' expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, research analysts forecast that Sensient Technologies Corporation will post 3.1 earnings per share for the current year.

Sensient Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 4th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $1.64 dividend on an annualized basis and a yield of 1.46%. Sensient Technologies's dividend payout ratio (DPR) is presently 51.74%.

Insider Transactions at Sensient Technologies

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

Institutional Trading of Sensient Technologies

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Sensient Technologies by 132.6% during 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. Principal Financial Group Inc. increased its position in shares of Sensient Technologies by 2.3% during 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 increased its position in shares of Sensient Technologies by 13.6% during 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 period. Oppenheimer Asset Management Inc. purchased a new position in Sensient Technologies in the 1st quarter worth approximately $224,000. Finally, Invesco Ltd. grew its position in Sensient Technologies by 4.0% during the fourth quarter. Invesco Ltd. now owns 185,490 shares of the specialty chemicals company's stock valued at $13,218,000 after acquiring an additional 7,148 shares during the last quarter. Institutional investors and hedge funds own 90.86% of the company's 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.