Janney Capital Management LLC bought a new position in Sensient Technologies Corporation (NYSE:SXT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,494 shares of the specialty chemicals company’s stock, valued at approximately $268,000.
Several other hedge funds and other institutional investors also recently modified their holdings of SXT. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sensient Technologies by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,774 shares of the specialty chemicals company’s stock worth $143,000 after acquiring an additional 139 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Sensient Technologies by 118.2% during the second quarter. Acrospire Investment Management LLC now owns 2,584 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 1,400 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Sensient Technologies during the third quarter valued at $221,000. World Asset Management Inc grew its holdings in shares of Sensient Technologies by 1.1% during the second quarter. World Asset Management Inc now owns 2,769 shares of the specialty chemicals company’s stock valued at $223,000 after buying an additional 30 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Sensient Technologies by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,825 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.
Shares of Sensient Technologies Corporation (NYSE SXT) traded down $0.21 during mid-day trading on Wednesday, hitting $74.74. The stock had a trading volume of 221,400 shares, compared to its average volume of 158,199. Sensient Technologies Corporation has a twelve month low of $71.21 and a twelve month high of $84.98. The company has a quick ratio of 1.42, a current ratio of 3.59 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $3,258.52, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 2.56 and a beta of 1.08.
Sensient Technologies declared that its Board of Directors has approved a share repurchase plan on Thursday, October 19th that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 6th were issued a dividend of $0.33 per share. This is an increase from Sensient Technologies’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%. Sensient Technologies’s payout ratio is currently 54.55%.
In other Sensient Technologies news, Director Fergus M. Clydesdale sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $76.00, for a total value of $152,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Essie Whitelaw sold 1,520 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $75.00, for a total value of $114,000.00. The disclosure for this sale can be found here. Insiders sold 4,187 shares of company stock worth $316,125 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.
A number of brokerages have recently weighed in on SXT. Zacks Investment Research upgraded Sensient Technologies from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Berenberg Bank began coverage on Sensient Technologies in a report on Friday, September 22nd. They set a “buy” rating and a $88.30 price target on the stock. Finally, KeyCorp reiterated a “buy” rating and set a $90.00 price target on shares of Sensient Technologies in a report on Friday, November 3rd.
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Sensient Technologies Company Profile
Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.
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