Sensient Technologies (NYSE:SXT) Announces Quarterly Earnings Results

Sensient Technologies (NYSE:SXT) released its quarterly earnings results on Friday. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, Briefing.com reports. The business had revenue of $392.61 million during the quarter, compared to analysts’ expectations of $390.64 million. Sensient Technologies had a return on equity of 11.41% and a net margin of 5.80%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. Sensient Technologies updated its FY 2024 guidance to 2.770-2.870 EPS and its FY24 guidance to $2.77 to $2.87 EPS.

Sensient Technologies Stock Up 0.1 %

Shares of Sensient Technologies stock opened at $77.55 on Monday. The business has a fifty day simple moving average of $76.68 and a 200 day simple moving average of $75.37. The stock has a market cap of $3.29 billion, a PE ratio of 37.11 and a beta of 0.75. The company has a quick ratio of 1.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.58. Sensient Technologies has a 12 month low of $55.02 and a 12 month high of $82.99.

Sensient Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, November 4th. Sensient Technologies’s payout ratio is 78.47%.

Insider Activity

In other news, Director Gebhardt Deborah Mckeithan sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $71.08, for a total value of $142,160.00. Following the completion of the transaction, the director now owns 15,162 shares of the company’s stock, valued at $1,077,714.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Sensient Technologies

Large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Sensient Technologies by 16.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 200,888 shares of the specialty chemicals company’s stock worth $13,899,000 after purchasing an additional 28,788 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Sensient Technologies in the 1st quarter valued at approximately $736,000. Kimelman & Baird LLC bought a new stake in Sensient Technologies in the 2nd quarter valued at approximately $1,287,000. Texas Permanent School Fund Corp boosted its position in Sensient Technologies by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 36,977 shares of the specialty chemicals company’s stock worth $2,558,000 after acquiring an additional 479 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Sensient Technologies by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,389,711 shares of the specialty chemicals company’s stock worth $355,721,000 after acquiring an additional 64,683 shares in the last quarter. 90.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SXT shares. Robert W. Baird increased their price target on shares of Sensient Technologies from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. StockNews.com lowered Sensient Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

Sensient Technologies Company Profile

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.