Meyer Handelman Co. Trims Stake in Sensient Technologies Co. (NYSE:SXT)

Meyer Handelman Co. reduced its position in shares of Sensient Technologies Co. (NYSE:SXT) by 38.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,200 shares of the specialty chemicals company’s stock after selling 16,000 shares during the quarter. Meyer Handelman Co. owned about 0.06% of Sensient Technologies worth $1,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Sensient Technologies by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,389,711 shares of the specialty chemicals company’s stock valued at $355,721,000 after acquiring an additional 64,683 shares during the period. Nordea Investment Management AB lifted its position in Sensient Technologies by 21.9% during the 4th quarter. Nordea Investment Management AB now owns 1,688,101 shares of the specialty chemicals company’s stock worth $111,617,000 after acquiring an additional 303,612 shares during the period. Dimensional Fund Advisors LP lifted its position in Sensient Technologies by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,161,451 shares of the specialty chemicals company’s stock worth $76,657,000 after acquiring an additional 129,386 shares during the period. Norges Bank acquired a new stake in Sensient Technologies during the 4th quarter worth about $36,188,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Sensient Technologies by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 545,922 shares of the specialty chemicals company’s stock valued at $36,031,000 after buying an additional 32,006 shares during the period. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SXT has been the subject of several analyst reports. Robert W. Baird boosted their price objective on Sensient Technologies from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 29th. StockNews.com cut Sensient Technologies from a “buy” rating to a “hold” rating in a report on Saturday, June 15th.

Insiders Place Their Bets

In other Sensient Technologies news, Director Essie Whitelaw sold 1,037 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $75.75, for a total transaction of $78,552.75. Following the completion of the sale, the director now directly owns 20,789 shares in the company, valued at approximately $1,574,766.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Essie Whitelaw sold 1,037 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $75.75, for a total transaction of $78,552.75. Following the transaction, the director now directly owns 20,789 shares in the company, valued at approximately $1,574,766.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven B. Morris sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $72.97, for a total value of $29,188.00. Following the transaction, the insider now owns 4,082 shares in the company, valued at $297,863.54. The disclosure for this sale can be found here. In the last three months, insiders sold 2,037 shares of company stock worth $153,245. Corporate insiders own 1.40% of the company’s stock.

Sensient Technologies Price Performance

Shares of Sensient Technologies stock opened at $74.48 on Friday. The company has a quick ratio of 1.71, a current ratio of 4.31 and a debt-to-equity ratio of 0.60. Sensient Technologies Co. has a twelve month low of $52.90 and a twelve month high of $78.77. The business has a 50-day moving average price of $74.24 and a 200 day moving average price of $68.41. The firm has a market cap of $3.16 billion, a PE ratio of 34.64 and a beta of 0.78.

Sensient Technologies (NYSE:SXT) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.79 earnings per share for the quarter. Sensient Technologies had a return on equity of 11.40% and a net margin of 6.16%. The firm had revenue of $384.67 million during the quarter. Sell-side analysts predict that Sensient Technologies Co. will post 2.85 earnings per share for the current fiscal year.

Sensient Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 6th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.64 annualized dividend and a yield of 2.20%. Sensient Technologies’s dividend payout ratio (DPR) is currently 76.28%.

Sensient Technologies Company 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.