CI Investments Inc. Sells 12,800 Shares of Sensient Technologies Corporation $SXT

CI Investments Inc. trimmed its position in shares of Sensient Technologies Corporation (NYSE:SXT) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,644 shares of the specialty chemicals company’s stock after selling 12,800 shares during the period. CI Investments Inc.’s holdings in Sensient Technologies were worth $5,501,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. MML Investors Services LLC boosted its stake in Sensient Technologies by 3.9% in the fourth quarter. MML Investors Services LLC now owns 3,146 shares of the specialty chemicals company’s stock worth $296,000 after buying an additional 119 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Sensient Technologies by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,675 shares of the specialty chemicals company’s stock valued at $909,000 after acquiring an additional 130 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Sensient Technologies by 53.1% during the fourth quarter. Advisors Asset Management Inc. now owns 401 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 139 shares in the last quarter. Covestor Ltd raised its stake in shares of Sensient Technologies by 31.7% during the fourth quarter. Covestor Ltd now owns 594 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 143 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Sensient Technologies by 3.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,500 shares of the specialty chemicals company’s stock worth $443,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.

Wall Street Analysts Forecast Growth

SXT has been the subject of a number of research reports. Rothschild & Co Redburn initiated coverage on shares of Sensient Technologies in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $125.00 price objective for the company. Weiss Ratings upgraded shares of Sensient Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Sensient Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Finally, UBS Group reissued a “buy” rating on shares of Sensient Technologies in a research note on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sensient Technologies currently has an average rating of “Moderate Buy” and an average target price of $134.00.

Sensient Technologies Price Performance

SXT opened at $117.44 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.01 and a quick ratio of 1.97. The stock’s 50 day simple moving average is $116.48 and its 200 day simple moving average is $104.09. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 34.64 and a beta of 0.78. Sensient Technologies Corporation has a 1 year low of $82.60 and a 1 year high of $129.35.

Sensient Technologies (NYSE:SXT) last announced its quarterly earnings data on Friday, April 24th. The specialty chemicals company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.24. The firm had revenue of $435.83 million during the quarter, compared to the consensus estimate of $411.39 million. Sensient Technologies had a return on equity of 13.12% and a net margin of 8.71%.The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. As a group, analysts predict that Sensient Technologies Corporation will post 3.9 earnings per share for the current year.

Insider Activity

In other news, VP Thierry Hoang sold 439 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $114.15, for a total value of $50,111.85. Following the transaction, the vice president owned 14,309 shares in the company, valued at approximately $1,633,372.35. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Sensient Technologies Company Profile

Sensient Technologies Corporation is a global leader in the manufacture and supply of colors, flavors and fragrances for a broad range of end-markets. The company develops and produces ingredients that enhance the appearance, taste and scent of products in the food, beverage, nutraceutical, pharmaceutical, personal care and household sectors. Its portfolio includes natural and synthetic colorants, botanical and artificial flavor systems, fragrance compounds and specialty chemical offerings tailored to customer specifications.

Within its flavor and fragrance division, Sensient provides custom formulations for sweet, savory and umami taste profiles along with fragrance blends for personal care and cosmetic applications.