Sensient Technologies Co. (SXT) Sees Significant Increase in Short Interest

Sensient Technologies Co. (NYSE:SXT) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,044,401 shares, a growth of 54.1% from the January 12th total of 677,792 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 391,755 shares, the days-to-cover ratio is presently 2.7 days.

Sensient Technologies (NYSE SXT) opened at $72.44 on Friday. The company has a current ratio of 3.39, a quick ratio of 1.25 and a debt-to-equity ratio of 0.71. Sensient Technologies has a twelve month low of $65.60 and a twelve month high of $84.98. The company has a market cap of $3,150.00, a price-to-earnings ratio of 29.45, a P/E/G ratio of 2.12 and a beta of 0.98.

Sensient Technologies (NYSE:SXT) last released its earnings results on Thursday, February 8th. The specialty chemicals company reported $0.84 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. Sensient Technologies had a net margin of 6.58% and a return on equity of 17.37%. The company had revenue of $328.87 million for the quarter. research analysts forecast that Sensient Technologies will post 3.8 earnings per share for the current year.

Sensient Technologies declared that its board has approved a stock buyback plan on Thursday, October 19th that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, February 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, February 5th. Sensient Technologies’s dividend payout ratio is currently 53.66%.

A number of equities analysts have recently commented on SXT shares. Off Wall Street started coverage on shares of Sensient Technologies in a report on Monday, December 18th. They issued a “sell” rating on the stock. KeyCorp reissued a “buy” rating and issued a $90.00 price target on shares of Sensient Technologies in a report on Friday, November 3rd. Gabelli raised shares of Sensient Technologies from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Monday. Finally, TheStreet lowered shares of Sensient Technologies from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Sensient Technologies currently has a consensus rating of “Hold” and an average target price of $90.77.

In other Sensient Technologies news, Director Hank Brown sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $71.78, for a total value of $143,560.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.95% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Sensient Technologies by 3.9% during the 4th quarter. BlackRock Inc. now owns 4,759,009 shares of the specialty chemicals company’s stock valued at $348,121,000 after purchasing an additional 179,909 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Sensient Technologies by 1.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,986,590 shares of the specialty chemicals company’s stock valued at $306,648,000 after purchasing an additional 63,383 shares during the last quarter. State Street Corp grew its holdings in shares of Sensient Technologies by 4.2% during the 2nd quarter. State Street Corp now owns 1,488,505 shares of the specialty chemicals company’s stock valued at $119,869,000 after purchasing an additional 60,015 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in shares of Sensient Technologies by 30.3% during the 4th quarter. Standard Life Aberdeen plc now owns 1,027,093 shares of the specialty chemicals company’s stock valued at $75,137,000 after purchasing an additional 239,123 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sensient Technologies by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 959,579 shares of the specialty chemicals company’s stock valued at $73,811,000 after purchasing an additional 8,141 shares during the last quarter. 88.12% of the stock is currently owned by 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.

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