Sensient Technologies (NYSE:SXT) Shares Gap Down - Here's What Happened

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)'s share price gapped down before the market opened 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 traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. CJS Securities assumed 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 boosted their price target on Sensient Technologies from $93.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd.

Sensient Technologies Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 4.34. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 36.80 and a beta of 0.56. The business has a fifty day moving average price of $100.16 and a 200 day moving average price of $84.66.

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 analysts' consensus estimates of $0.88 by $0.06. The company had revenue of $414.23 million during the quarter, compared to analysts' expectations of $417.60 million. Sensient Technologies had a return on equity of 12.14% and a net margin of 8.19%. Sensient Technologies's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. As a group, research analysts anticipate that Sensient Technologies Corporation will post 3.1 earnings per share for the current year.

Sensient Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 4th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.46%. Sensient Technologies's dividend payout ratio is currently 54.30%.

Insiders Place Their Bets

In related news, Director Mario Ferruzzi sold 1,668 shares of the business's stock in a transaction 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 sale, the director owned 7,946 shares in the company, 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 SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sensient Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of SXT. Freemont Capital Pte Ltd bought a new stake in Sensient Technologies during the 4th quarter worth $449,288,000. Congress Asset Management Co. bought a new stake in Sensient Technologies during the 1st quarter worth $49,984,000. Norges Bank bought a new stake in Sensient Technologies during the 4th quarter worth $45,757,000. Marshall Wace LLP bought a new stake in shares of Sensient Technologies in the 4th quarter valued at about $24,490,000. Finally, Nuveen LLC bought a new stake in shares of Sensient Technologies in the 1st quarter valued at about $24,434,000. Institutional investors own 90.86% 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.

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