Norges Bank Invests $45.76 Million in Sensient Technologies Co. (NYSE:SXT)

Norges Bank bought a new stake in Sensient Technologies Co. (NYSE:SXT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 642,117 shares of the specialty chemicals company’s stock, valued at approximately $45,757,000. Norges Bank owned 1.52% of Sensient Technologies at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Sensient Technologies by 100.9% during the fourth quarter. JPMorgan Chase & Co. now owns 200,726 shares of the specialty chemicals company’s stock valued at $14,304,000 after purchasing an additional 100,788 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Sensient Technologies by 5.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,912 shares of the specialty chemicals company’s stock valued at $493,000 after buying an additional 374 shares during the period. Vanguard Group Inc. raised its position in shares of Sensient Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,064,724 shares of the specialty chemicals company’s stock worth $360,912,000 after buying an additional 36,406 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Sensient Technologies in the 4th quarter worth approximately $556,000. Finally, American Century Companies Inc. boosted its holdings in shares of Sensient Technologies by 59.1% in the fourth quarter. American Century Companies Inc. now owns 6,771 shares of the specialty chemicals company’s stock valued at $483,000 after acquiring an additional 2,515 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.

Sensient Technologies Price Performance

Shares of Sensient Technologies stock opened at $75.05 on Friday. Sensient Technologies Co. has a 52 week low of $66.15 and a 52 week high of $82.99. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.18 billion, a PE ratio of 25.53 and a beta of 0.63. The company’s 50-day moving average price is $73.28 and its two-hundred day moving average price is $75.14.

Sensient Technologies (NYSE:SXT) last released its earnings results on Friday, February 14th. The specialty chemicals company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $376.40 million for the quarter, compared to the consensus estimate of $375.10 million. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts anticipate that Sensient Technologies Co. will post 3.1 EPS for the current fiscal year.

Sensient Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 4th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, February 4th. Sensient Technologies’s payout ratio is 55.78%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Sensient Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd.

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.