Sensient Technologies Corporation (NYSE:SXT) Director Fergus M. Clydesdale sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.00, for a total value of $152,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sensient Technologies Corporation (NYSE:SXT) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The company had revenue of $353.52 million during the quarter. Sensient Technologies Corporation had a net margin of 7.89% and a return on equity of 17.34%. During the same quarter last year, the business earned $0.83 earnings per share.

Sensient Technologies Corporation announced that its board has approved a stock buyback program on Thursday, October 19th that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 6th will be paid a dividend of $0.33 per share. This is an increase from Sensient Technologies Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 3rd. Sensient Technologies Corporation’s payout ratio is presently 49.59%.

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Several large investors have recently bought and sold shares of SXT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sensient Technologies Corporation by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,774 shares of the specialty chemicals company’s stock worth $143,000 after buying an additional 139 shares during the period. Acrospire Investment Management LLC lifted its stake in shares of Sensient Technologies Corporation by 118.2% during the second quarter. Acrospire Investment Management LLC now owns 2,584 shares of the specialty chemicals company’s stock worth $208,000 after buying an additional 1,400 shares during the period. World Asset Management Inc lifted its stake in shares of Sensient Technologies Corporation by 1.1% during the second quarter. World Asset Management Inc now owns 2,769 shares of the specialty chemicals company’s stock worth $223,000 after buying an additional 30 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Sensient Technologies Corporation by 4.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,825 shares of the specialty chemicals company’s stock worth $227,000 after buying an additional 119 shares during the period. Finally, Dubuque Bank & Trust Co. lifted its stake in shares of Sensient Technologies Corporation by 8.4% during the second quarter. Dubuque Bank & Trust Co. now owns 3,184 shares of the specialty chemicals company’s stock worth $256,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 88.61% of the company’s stock.

A number of brokerages have recently commented on SXT. Zacks Investment Research raised Sensient Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. BidaskClub cut Sensient Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Berenberg Bank began coverage on Sensient Technologies Corporation in a research report on Friday, September 22nd. They issued a “buy” rating and a $88.30 price target on the stock. Finally, KeyCorp reissued a “buy” rating and issued a $90.00 price target on shares of Sensient Technologies Corporation in a research report on Thursday, August 24th.

Sensient Technologies Corporation Company Profile

Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.

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