Sensient Technologies (NYSE:SXT) Shares Gap Down – Here’s What Happened

Sensient Technologies Co. (NYSE:SXT) gapped down prior to trading on Friday . The stock had previously closed at $77.00, but opened at $71.90. Sensient Technologies shares last traded at $71.57, with a volume of 119,725 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Sensient Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th.

Sensient Technologies Stock Performance

The firm has a market capitalization of $3.05 billion, a PE ratio of 34.41 and a beta of 0.77. The company has a current ratio of 3.74, a quick ratio of 1.47 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $74.05 and its two-hundred day simple moving average is $75.67.

Sensient Technologies (NYSE:SXT) last announced its earnings results on Friday, February 14th. The specialty chemicals company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $376.40 million during the quarter, compared to analyst estimates of $375.10 million. Sensient Technologies had a net margin of 5.80% and a return on equity of 11.41%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Research analysts expect that Sensient Technologies Co. will post 2.82 earnings per share for the current fiscal year.

Sensient Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 4th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.64 dividend on an annualized basis and a yield of 2.28%. Sensient Technologies’s dividend payout ratio is presently 78.47%.

Institutional Investors Weigh In On Sensient Technologies

A number of hedge funds have recently added to or reduced their stakes in SXT. Franklin Resources Inc. increased its stake in shares of Sensient Technologies by 4.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,462 shares of the specialty chemicals company’s stock worth $270,000 after purchasing an additional 160 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Sensient Technologies by 4.8% in the 4th quarter. Ameritas Investment Partners Inc. now owns 4,408 shares of the specialty chemicals company’s stock worth $314,000 after purchasing an additional 203 shares in the last quarter. Versor Investments LP increased its stake in shares of Sensient Technologies by 5.1% in the 4th quarter. Versor Investments LP now owns 4,521 shares of the specialty chemicals company’s stock worth $322,000 after purchasing an additional 221 shares in the last quarter. Xponance Inc. increased its stake in shares of Sensient Technologies by 9.5% in the 4th quarter. Xponance Inc. now owns 3,017 shares of the specialty chemicals company’s stock worth $215,000 after purchasing an additional 261 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Sensient Technologies by 49.4% in the 4th quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company’s stock worth $66,000 after purchasing an additional 304 shares in the last quarter. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

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.