Zacks Investment Research Downgrades Sensient Technologies Corporation (SXT) to Sell

Sensient Technologies Corporation (NYSE:SXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Sensient Technologies Corporation is a leading global supplier of colors, flavors and fragrances. Using sophisticated technologies at facilities around the world, the Company develops unique formulations and ingredients that bring life to its customers’ products. Sensient manufactures a full range of ink-jet inks, cosmetic and pharmaceutical additives, as well as colors and flavors for many of the world’s best-known brands. (Press Release) “

Separately, KeyCorp lifted their price target on Sensient Technologies Corporation from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, January 23rd.

Sensient Technologies Corporation (NYSE:SXT) opened at 78.58 on Wednesday. The company has a market cap of $3.48 billion, a PE ratio of 27.91 and a beta of 0.92. The stock has a 50 day moving average price of $77.49 and a 200 day moving average price of $75.86. Sensient Technologies Corporation has a 1-year low of $55.20 and a 1-year high of $83.38.

Sensient Technologies Corporation (NYSE:SXT) last released its quarterly earnings results on Friday, February 10th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Sensient Technologies Corporation had a return on equity of 16.73% and a net margin of 9.13%. Equities analysts forecast that Sensient Technologies Corporation will post $3.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, February 3rd. Sensient Technologies Corporation’s payout ratio is 42.70%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its position in shares of Sensient Technologies Corporation by 8.5% in the third quarter. Sit Investment Associates Inc. now owns 1,600 shares of the company’s stock valued at $121,000 after buying an additional 125 shares during the last quarter. Sei Investments Co. increased its position in Sensient Technologies Corporation by 634.8% in the third quarter. Sei Investments Co. now owns 2,388 shares of the company’s stock worth $181,000 after buying an additional 2,063 shares in the last quarter. Gideon Capital Advisors Inc. bought a new position in Sensient Technologies Corporation during the fourth quarter worth approximately $203,000. Public Employees Retirement System of Ohio increased its position in Sensient Technologies Corporation by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 2,923 shares of the company’s stock worth $208,000 after buying an additional 158 shares in the last quarter. Finally, World Asset Management Inc bought a new position in Sensient Technologies Corporation during the third quarter worth approximately $220,000. 88.99% of the stock is owned by hedge funds and other institutional investors.

About Sensient Technologies Corporation

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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