Connor Clark & Lunn Investment Management Ltd. Raises Position in Sensient Technologies Co. (NYSE:SXT)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Sensient Technologies Co. (NYSE:SXT) by 135.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,059 shares of the specialty chemicals company’s stock after acquiring an additional 13,279 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sensient Technologies were worth $1,850,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SXT. Van ECK Associates Corp lifted its position in Sensient Technologies by 5.2% in the 2nd quarter. Van ECK Associates Corp now owns 3,680 shares of the specialty chemicals company’s stock valued at $273,000 after acquiring an additional 183 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Sensient Technologies by 2.1% during the second quarter. Arizona State Retirement System now owns 10,076 shares of the specialty chemicals company’s stock valued at $748,000 after buying an additional 206 shares during the last quarter. Diversified Trust Co increased its holdings in Sensient Technologies by 2.4% in the 2nd quarter. Diversified Trust Co now owns 11,664 shares of the specialty chemicals company’s stock worth $865,000 after buying an additional 275 shares in the last quarter. US Bancorp DE raised its position in Sensient Technologies by 6.1% in the 3rd quarter. US Bancorp DE now owns 6,355 shares of the specialty chemicals company’s stock worth $510,000 after buying an additional 366 shares during the last quarter. Finally, Quarry LP bought a new position in Sensient Technologies during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Sensient Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Robert W. Baird boosted their target price 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.

Sensient Technologies Trading Up 0.7 %

Shares of NYSE:SXT opened at $79.20 on Tuesday. Sensient Technologies Co. has a 52-week low of $55.02 and a 52-week high of $82.99. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 37.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.47 and a current ratio of 3.74. The stock’s 50-day simple moving average is $77.90 and its two-hundred day simple moving average is $76.33.

Sensient Technologies (NYSE:SXT) last announced its earnings results on Friday, October 25th. The specialty chemicals company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Sensient Technologies had a net margin of 5.80% and a return on equity of 11.41%. The company had revenue of $392.61 million during the quarter, compared to analyst estimates of $390.64 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts expect that Sensient Technologies Co. will post 2.82 EPS for the current year.

Sensient Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.41 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.64 dividend on an annualized basis and a yield of 2.07%. Sensient Technologies’s dividend payout ratio is currently 78.47%.

Insider Activity at Sensient Technologies

In other Sensient Technologies news, insider Michael C. Geraghty sold 4,000 shares of Sensient Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $80.48, for a total transaction of $321,920.00. Following the transaction, the insider now owns 36,518 shares of the company’s stock, valued at $2,938,968.64. The trade was a 9.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Sensient Technologies 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.