Investment analysts at Off Wall Street started coverage on shares of Sensient Technologies (NYSE:SXT) in a report issued on Monday, The Fly reports. The brokerage set a “sell” rating on the specialty chemicals company’s stock.
A number of other research analysts have also weighed in on SXT. KeyCorp reissued a “buy” rating and set a $90.00 target price on shares of Sensient Technologies in a report on Thursday, August 24th. Berenberg Bank assumed coverage on Sensient Technologies in a report on Friday, September 22nd. They set a “buy” rating and a $88.30 target price on the stock. Finally, Zacks Investment Research raised Sensient Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $89.15.
Shares of Sensient Technologies (NYSE:SXT) traded up $1.71 during trading on Monday, hitting $75.70. The stock had a trading volume of 606,200 shares, compared to its average volume of 159,874. Sensient Technologies has a one year low of $71.21 and a one year high of $84.98. The company has a market cap of $3,291.13, a PE ratio of 22.40, a P/E/G ratio of 2.58 and a beta of 1.08. The company has a current ratio of 3.59, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69.
Sensient Technologies declared that its board has authorized a share repurchase program on Thursday, October 19th that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other Sensient Technologies news, Director Essie Whitelaw sold 1,520 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $75.00, for a total value of $114,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Fergus M. Clydesdale sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $76.00, for a total value of $152,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,187 shares of company stock worth $316,125 over the last three months. 0.95% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sensient Technologies by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,774 shares of the specialty chemicals company’s stock valued at $143,000 after buying an additional 139 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in Sensient Technologies by 118.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,584 shares of the specialty chemicals company’s stock valued at $208,000 after buying an additional 1,400 shares in the last quarter. Jane Street Group LLC acquired a new position in Sensient Technologies in the 3rd quarter valued at $221,000. Public Employees Retirement System of Ohio grew its holdings in Sensient Technologies by 4.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,825 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 119 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new position in Sensient Technologies in the 3rd quarter valued at $231,000. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
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Sensient Technologies 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.
