Sensient Technologies (NYSE:SXT) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Sensient Technologies (NYSE:SXT) from a buy rating to a hold rating in a report issued on Tuesday morning.

Sensient Technologies Trading Up 0.9 %

NYSE SXT opened at $70.28 on Tuesday. The stock’s 50-day simple moving average is $72.95 and its two-hundred day simple moving average is $75.49. Sensient Technologies has a twelve month low of $64.11 and a twelve month high of $82.99. The company has a quick ratio of 1.34, a current ratio of 3.55 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 23.90 and a beta of 0.77.

Sensient Technologies (NYSE:SXT) last released its quarterly 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. Sensient Technologies had a return on equity of 11.93% and a net margin of 8.01%. The business had revenue of $376.40 million for the quarter, compared to the consensus estimate of $375.10 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts forecast that Sensient Technologies will post 3.1 EPS for the current fiscal year.

Sensient Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 4th will be issued a $0.41 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $1.64 annualized dividend and a dividend yield of 2.33%. Sensient Technologies’s dividend payout ratio is currently 55.78%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SXT. Freemont Capital Pte Ltd purchased a new position in shares of Sensient Technologies in the fourth quarter worth about $449,288,000. Norges Bank purchased a new position in shares of Sensient Technologies in the fourth quarter worth about $45,757,000. Marshall Wace LLP purchased a new position in shares of Sensient Technologies in the fourth quarter worth about $24,490,000. Wealthfront Advisers LLC purchased a new position in shares of Sensient Technologies in the fourth quarter worth about $7,270,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Sensient Technologies by 100.9% in the fourth quarter. JPMorgan Chase & Co. now owns 200,726 shares of the specialty chemicals company’s stock worth $14,304,000 after buying an additional 100,788 shares during the period. Hedge funds and other institutional investors own 90.86% of the company’s stock.

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.