Sensient Technologies Co. (NYSE:SXT) Short Interest Down 8.8% in October

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Sensient Technologies Co. (NYSE:SXT) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,760,000 shares, a decline of 8.8% from the September 30th total of 1,930,000 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 239,200 shares, the days-to-cover ratio is presently 7.4 days.

SXT traded down $0.43 during trading on Monday, reaching $62.37. 10,119 shares of the stock were exchanged, compared to its average volume of 311,966. The business’s 50 day moving average price is $64.35 and its two-hundred day moving average price is $68.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.12 and a quick ratio of 1.68. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 17.55 and a beta of 0.95. Sensient Technologies has a 1 year low of $51.93 and a 1 year high of $75.21.

Sensient Technologies (NYSE:SXT) last posted its earnings results on Friday, October 18th. The specialty chemicals company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). The firm had revenue of $317.70 million for the quarter, compared to analysts’ expectations of $344.11 million. Sensient Technologies had a return on equity of 14.98% and a net margin of 9.92%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, analysts anticipate that Sensient Technologies will post 2.95 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.50%. This is an increase from Sensient Technologies’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, November 1st. Sensient Technologies’s payout ratio is presently 43.94%.

SXT has been the topic of a number of analyst reports. Zacks Investment Research downgraded Sensient Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Seaport Global Securities downgraded Sensient Technologies from a “buy” rating to a “neutral” rating in a research note on Monday, October 21st. Finally, Sidoti initiated coverage on Sensient Technologies in a research note on Tuesday, September 24th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $73.25.

Institutional investors and hedge funds have recently bought and sold shares of the business. Krane Funds Advisors LLC purchased a new stake in shares of Sensient Technologies in the second quarter valued at $58,000. HM Payson & Co. purchased a new stake in shares of Sensient Technologies in the second quarter valued at $147,000. Point72 Hong Kong Ltd purchased a new stake in shares of Sensient Technologies in the second quarter valued at $172,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sensient Technologies by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,713 shares of the specialty chemicals company’s stock valued at $186,000 after acquiring an additional 293 shares in the last quarter. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Sensient Technologies in the second quarter valued at $196,000. Institutional investors own 95.64% of the company’s stock.

About Sensient Technologies

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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