Gabelli Funds LLC Reduces Stock Position in Sensient Technologies Co. (NYSE:SXT)

Gabelli Funds LLC cut its holdings in shares of Sensient Technologies Co. (NYSE:SXT) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,900 shares of the specialty chemicals company’s stock after selling 10,800 shares during the quarter. Gabelli Funds LLC owned approximately 0.36% of Sensient Technologies worth $10,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brown Brothers Harriman & Co. increased its holdings in shares of Sensient Technologies by 233.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 350 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 245 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Sensient Technologies in the 2nd quarter valued at approximately $31,000. Milestone Investment Advisors LLC bought a new stake in shares of Sensient Technologies in the 1st quarter valued at approximately $39,000. Covestor Ltd increased its holdings in shares of Sensient Technologies by 88.1% in the 1st quarter. Covestor Ltd now owns 489 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 229 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Sensient Technologies by 23.3% in the 4th quarter. State of Wyoming now owns 720 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 136 shares during the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Sensient Technologies Trading Down 4.1 %

NYSE:SXT opened at $58.23 on Tuesday. Sensient Technologies Co. has a 12-month low of $52.90 and a 12-month high of $79.19. The firm has a market capitalization of $2.46 billion, a P/E ratio of 19.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.22 and a quick ratio of 1.60. The business has a 50 day simple moving average of $58.08 and a 200 day simple moving average of $64.63.

Sensient Technologies (NYSE:SXT) last released its quarterly earnings data on Friday, October 20th. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Sensient Technologies had a return on equity of 12.22% and a net margin of 8.82%. The business had revenue of $363.80 million during the quarter, compared to analyst estimates of $371.80 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year.

Sensient Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.82%. Sensient Technologies’s dividend payout ratio (DPR) is presently 53.77%.

Insiders Place Their Bets

In other Sensient Technologies news, insider E. Craig Mitchell sold 2,608 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $57.39, for a total transaction of $149,673.12. Following the completion of the transaction, the insider now owns 18,477 shares in the company, valued at approximately $1,060,395.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SXT shares. Robert W. Baird upgraded Sensient Technologies from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Tuesday, October 17th. StockNews.com began coverage on Sensient Technologies in a research report on Thursday, October 5th. They set a “hold” rating for the company.

About Sensient Technologies

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in the United States and internationally. It operates through three segments: Flavors & Extracts Group, Color Group, and Asia Pacific Group. The Flavors & Extracts Group segment 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.