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

Sensient Technologies Co. (NYSE:SXT)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

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

Sensient Technologies Trading Down 7.3 %

The stock has a 50-day moving average price of $73.92 and a two-hundred day moving average price of $75.61. The stock has a market capitalization of $3.02 billion, a PE ratio of 34.15 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.47 and a current ratio of 3.74.

Sensient Technologies (NYSE:SXT) last posted its quarterly earnings results on Friday, February 14th. The specialty chemicals company reported $0.65 earnings per share for the quarter, topping 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 revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that Sensient Technologies Co. will post 2.82 earnings per share for the current year.

Sensient Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 4th will be paid a $0.41 dividend. 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 2.30%. Sensient Technologies’s payout ratio is presently 78.47%.

Hedge Funds Weigh In On Sensient Technologies

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in Sensient Technologies by 4.8% during the 3rd quarter. Franklin Resources Inc. now owns 3,462 shares of the specialty chemicals company’s stock valued at $270,000 after purchasing an additional 160 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Sensient Technologies by 4.8% in the fourth quarter. Ameritas Investment Partners Inc. now owns 4,408 shares of the specialty chemicals company’s stock worth $314,000 after buying an additional 203 shares in the last quarter. Versor Investments LP boosted its position in shares of Sensient Technologies by 5.1% during the fourth quarter. Versor Investments LP now owns 4,521 shares of the specialty chemicals company’s stock worth $322,000 after acquiring an additional 221 shares during the last quarter. Xponance Inc. grew its stake in Sensient Technologies by 9.5% during the fourth quarter. Xponance Inc. now owns 3,017 shares of the specialty chemicals company’s stock valued at $215,000 after acquiring an additional 261 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Sensient Technologies by 49.4% in the 4th quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company’s stock valued at $66,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.

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.