Sensient Technologies (NYSE:SXT) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Sensient Technologies (NYSE:SXT) from a hold rating to a sell rating in a research report released on Friday morning, Zacks.com reports.

According to Zacks, “Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employ advanced technologies to develop specialty food and beverage systems, cosmetic ingredients, pharmaceutical excipients, inkjet and specialty inks and colors, and other specialty and fine chemicals. Sensient uses advanced proprietary technologies to produce a broad range of innovative products. Sensient is a global developer, manufacturer and supplier of flavor and fragrance systems for the food, beverage, personal care and household-products industries. Sensient is a developer, manufacturer and supplier of colors for businesses worldwide. Sensient provides natural and synthetic color systems for use in foods, beverages and pharmaceuticals; colors and other ingredients for cosmetics, such as active ingredients, solubilizers and surface treated pigments; pharmaceutical excipients, such as colors, flavors and coatings; specialty inks; and technical colors for industrial applications. “

Separately, TheStreet raised shares of Sensient Technologies from a c+ rating to a b- rating in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $75.00.

Sensient Technologies stock traded down $0.90 during trading hours on Friday, hitting $65.97. 152,674 shares of the stock were exchanged, compared to its average volume of 302,978. The company has a quick ratio of 1.80, a current ratio of 4.17 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.77 billion, a PE ratio of 18.58 and a beta of 1.02. Sensient Technologies has a 12 month low of $51.93 and a 12 month high of $78.40. The stock has a 50-day moving average of $70.66.

Sensient Technologies (NYSE:SXT) last issued its quarterly earnings data on Friday, July 19th. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The firm had revenue of $339.20 million for the quarter, compared to the consensus estimate of $361.20 million. Sensient Technologies had a return on equity of 16.15% and a net margin of 10.87%. Sensient Technologies’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, sell-side analysts expect that Sensient Technologies will post 3.2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.18%. Sensient Technologies’s payout ratio is 40.56%.

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Sensient Technologies by 3.1% during the second quarter. Janus Henderson Group PLC now owns 4,396,336 shares of the specialty chemicals company’s stock worth $323,043,000 after purchasing an additional 134,166 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of Sensient Technologies by 0.5% during the first quarter. Champlain Investment Partners LLC now owns 1,812,105 shares of the specialty chemicals company’s stock worth $122,843,000 after purchasing an additional 8,920 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sensient Technologies by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,145,972 shares of the specialty chemicals company’s stock worth $64,003,000 after purchasing an additional 19,577 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Sensient Technologies by 2.8% during the first quarter. Eagle Asset Management Inc. now owns 891,481 shares of the specialty chemicals company’s stock worth $60,433,000 after purchasing an additional 24,243 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Sensient Technologies by 9.9% during the second quarter. Schroder Investment Management Group now owns 810,359 shares of the specialty chemicals company’s stock worth $59,545,000 after purchasing an additional 72,695 shares in the last quarter. Institutional investors own 99.46% of the company’s stock.

Sensient Technologies Company Profile

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and fragrances in North America, Europe, the Asia Pacific, and internationally. It operates through three segments: Flavors & Fragrances Group, Color Group, and Asia Pacific Group.

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