The Manufacturers Life Insurance Company purchased a new position in Sensient Technologies Corporation (NYSE:SXT – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,023 shares of the specialty chemicals company’s stock, valued at approximately $2,345,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY bought a new stake in shares of Sensient Technologies during the second quarter valued at approximately $10,242,000. Cibc World Market Inc. acquired a new stake in Sensient Technologies in the 2nd quarter valued at $738,000. Commerce Bank bought a new stake in Sensient Technologies during the 2nd quarter valued at $471,000. Northwestern Mutual Wealth Management Co. acquired a new position in Sensient Technologies during the second quarter worth $148,000. Finally, Quantbot Technologies LP acquired a new position in Sensient Technologies during the second quarter worth $1,136,000. Institutional investors and hedge funds own 90.86% of the company’s stock.
Sensient Technologies Stock Up 0.9%
Sensient Technologies stock opened at $136.09 on Thursday. The firm has a 50 day simple moving average of $125.22 and a 200 day simple moving average of $111.08. The company has a current ratio of 4.39, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. Sensient Technologies Corporation has a 1-year low of $82.60 and a 1-year high of $138.82. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 36.68 and a beta of 0.80.
Sensient Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were paid a $0.41 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.64 annualized dividend and a yield of 1.2%. Sensient Technologies’s dividend payout ratio (DPR) is currently 44.20%.
Insider Buying and Selling
In other Sensient Technologies news, Director Mario Ferruzzi sold 1,200 shares of Sensient Technologies stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $129.48, for a total transaction of $155,376.00. Following the completion of the transaction, the director owned 7,352 shares of the company’s stock, valued at $951,936.96. The trade was a 14.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Sensient Technologies from $143.00 to $155.00 and gave the company a “buy” rating in a report on Monday, July 27th. Robert W. Baird raised their price target on shares of Sensient Technologies from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Weiss Ratings downgraded Sensient Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Rothschild & Co Redburn assumed coverage on Sensient Technologies in a report on Wednesday, July 8th. They set a “neutral” rating and a $125.00 price objective for the company. Finally, Zacks Research raised Sensient Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $140.00.
Get Our Latest Stock Analysis on Sensient Technologies
Sensient Technologies Profile
Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.
Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.
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