Norges Bank Invests $50.73 Million in Sensient Technologies Corporation $SXT

Norges Bank acquired a new position in Sensient Technologies Corporation (NYSE:SXT) during the 2nd quarter, Holdings Channel reports. The fund acquired 514,901 shares of the specialty chemicals company’s stock, valued at approximately $50,728,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its position in Sensient Technologies by 1.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 16,708 shares of the specialty chemicals company’s stock worth $1,646,000 after acquiring an additional 172 shares during the last quarter. Choreo LLC purchased a new position in shares of Sensient Technologies during the 2nd quarter worth approximately $274,000. Prudential Financial Inc. raised its position in shares of Sensient Technologies by 6.1% during the 2nd quarter. Prudential Financial Inc. now owns 43,974 shares of the specialty chemicals company’s stock worth $4,332,000 after purchasing an additional 2,547 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Sensient Technologies by 742.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,947 shares of the specialty chemicals company’s stock valued at $290,000 after buying an additional 2,597 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Sensient Technologies by 4,511.3% in the 2nd quarter. American Century Companies Inc. now owns 589,272 shares of the specialty chemicals company’s stock valued at $58,055,000 after buying an additional 576,493 shares in the last quarter. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Essie Whitelaw sold 3,985 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $95.02, for a total transaction of $378,654.70. Following the completion of the transaction, the director owned 17,128 shares of the company’s stock, valued at $1,627,502.56. This represents a 18.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Carleone acquired 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $91.26 per share, for a total transaction of $91,260.00. Following the completion of the acquisition, the director owned 22,414 shares in the company, valued at approximately $2,045,501.64. This trade represents a 4.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.20% of the stock is currently owned by company insiders.

Sensient Technologies Stock Performance

NYSE:SXT opened at $92.29 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.59 and a quick ratio of 1.79. The firm has a market cap of $3.92 billion, a PE ratio of 28.22 and a beta of 0.58. The firm has a 50 day simple moving average of $94.13 and a 200-day simple moving average of $101.54. Sensient Technologies Corporation has a 1-year low of $66.14 and a 1-year high of $121.54.

Sensient Technologies (NYSE:SXT) last released its earnings results on Friday, October 31st. The specialty chemicals company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.90 by $0.06. The firm had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $407.45 million. Sensient Technologies had a net margin of 8.72% and a return on equity of 12.91%. Sensient Technologies’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Sensient Technologies has set its FY 2025 guidance at 3.130-3.230 EPS. On average, equities analysts expect that Sensient Technologies Corporation will post 3.1 EPS for the current year.

Sensient Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, November 10th. Sensient Technologies’s dividend payout ratio is presently 50.15%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Sensient Technologies in a research report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.00.

About Sensient Technologies

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.