Van ECK Associates Corp Grows Stock Holdings in Sensient Technologies Co. (NYSE:SXT)

Posted by Defense World Staff on Aug 8th, 2023

Van ECK Associates Corp grew its holdings in shares of Sensient Technologies Co. (NYSE:SXT – Free Report) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,102 shares of the specialty chemicals company’s stock after buying an additional 621 shares during the quarter. Van ECK Associates Corp’s holdings in Sensient Technologies were worth $314,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. New Mexico Educational Retirement Board grew its stake in Sensient Technologies by 15.2% during the first quarter. New Mexico Educational Retirement Board now owns 7,600 shares of the specialty chemicals company’s stock worth $582,000 after buying an additional 1,000 shares during the period. Victory Capital Management Inc. grew its stake in Sensient Technologies by 1,897.7% during the first quarter. Victory Capital Management Inc. now owns 190,025 shares of the specialty chemicals company’s stock worth $14,548,000 after buying an additional 180,513 shares during the period. Texas Permanent School Fund Corp grew its stake in Sensient Technologies by 33.4% during the first quarter. Texas Permanent School Fund Corp now owns 37,700 shares of the specialty chemicals company’s stock worth $2,886,000 after buying an additional 9,438 shares during the period. Dupont Capital Management Corp grew its stake in Sensient Technologies by 3.5% during the first quarter. Dupont Capital Management Corp now owns 26,069 shares of the specialty chemicals company’s stock worth $1,996,000 after buying an additional 873 shares during the period. Finally, SG Americas Securities LLC grew its stake in Sensient Technologies by 78.5% during the first quarter. SG Americas Securities LLC now owns 22,554 shares of the specialty chemicals company’s stock worth $1,727,000 after buying an additional 9,916 shares during the period. 88.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Sensient Technologies in a research note on Thursday, May 18th. They issued a “hold” rating for the company.

Get Our Latest Report on SXT

Insider Activity at Sensient Technologies

In related news, major shareholder Winder Investment Pte Ltd sold 6,304,914 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $71.13, for a total value of $448,468,532.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.35% of the stock is currently owned by corporate insiders.

Sensient Technologies Price Performance

Shares of SXT stock opened at $61.58 on Tuesday. The company has a market capitalization of $2.60 billion, a PE ratio of 19.55 and a beta of 0.87. The firm has a fifty day simple moving average of $70.03 and a 200-day simple moving average of $72.90. The company has a current ratio of 4.35, a quick ratio of 1.71 and a debt-to-equity ratio of 0.65. Sensient Technologies Co. has a twelve month low of $61.03 and a twelve month high of $89.34.

Sensient Technologies (NYSE:SXT – Get Free Report) last posted its quarterly earnings results on Friday, July 21st. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.07). The company had revenue of $374.30 million during the quarter, compared to analyst estimates of $382.62 million. Sensient Technologies had a net margin of 9.14% and a return on equity of 12.98%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share.

Sensient Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $1.64 annualized dividend and a yield of 2.66%. Sensient Technologies’s dividend payout ratio is presently 52.06%.

About Sensient Technologies

(Free Report)

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in the United States and internationally. It operates through three segments: Flavors & Extracts Group, Color Group, and Asia Pacific Group. The Flavors & Extracts Group segment 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.