On September 14, 2023, it was reported that ProShare Advisors LLC had decreased its holdings in Sensient Technologies Co. (NYSE:SXT) by 4.7% during the first quarter of the year. According to the company’s recent 13F filing with the Securities and Exchange Commission (SEC), ProShare Advisors LLC owned approximately 599,091 shares of Sensient Technologies’ stock after selling 29,407 shares during the period. As of its most recent filing with the SEC, this ownership represented about 1.42% of Sensient Technologies’ total worth, amounting to $45,866,000.
Sensient Technologies is a specialty chemicals company that recently released its earnings results for the quarter ending on July 21st. The company reported an earnings per share (EPS) figure of $0.81 for the quarter, falling short of analysts’ consensus estimates by $0.07. Although Sensient Technologies achieved revenue of $374.30 million during this period, it fell slightly short of the consensus estimate of $382.62 million.
It is worth noting that Sensient Technologies experienced a return on equity of 12.98%, indicating its performance in generating profits from shareholders’ investments. The company also had a net margin of 9.14%, suggesting reasonable profitability levels relative to its revenue.
In terms of year-over-year growth, Sensient Technologies recorded a modest increase in revenue, which was up by only 0.7%. However, compared to the same quarter in the previous year when it earned $0.92 earnings per share, there was a decline in earnings for this period.
Recently, StockNews.com initiated coverage on Sensient Technologies in a research report published on August 17th. The report assigned a “hold” rating to the company’s stock.
While ProShare Advisors LLC divested some of its holdings in Sensient Technologies earlier this year, it is important to consider the overall performance of the company. The slight miss in earnings estimates, along with a marginal increase in revenue, indicates that Sensient Technologies may face some challenges in meeting market expectations. However, it is crucial for investors to thoroughly evaluate all relevant factors and seek professional advice before making any investment decisions.
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Hedge Funds Increase Holdings as Major Shareholder Sells Millions of Shares in Sensient Technologies
Intriguing Developments in Sensient Technologies: Hedge Funds Modify Holdings and Major Shareholder Sells Millions of Shares
September 14, 2023
Sensient Technologies, a leading specialty chemicals company, finds itself in the midst of perplexity as several hedge funds have recently made significant modifications to their holdings. Raymond James & Associates, for instance, has increased its stake in Sensient Technologies by an astonishing 42.3% during the first quarter. The firm now possesses 3,305 shares of the company’s stock with an approximate value of $277,000 after acquiring an additional 983 shares in the last quarter.
Another notable player in this arena is Citigroup Inc., which amplified its stake in Sensient Technologies by 1.6% during the same period. With a current holding of 58,156 shares valued at $4,883,000, Citigroup Inc. purchased an additional 933 shares over the course of the last quarter.
PNC Financial Services Group Inc., too, has embraced this trend by raising its stake in Sensient Technologies by a remarkable 232.5% during the first quarter. As a result of this substantial increase, PNC Financial Services Group Inc. now owns 6,157 shares estimated at $517,000 after procuring an additional 4,305 shares.
Bank of Montreal Can also joins the ranks as it bolstered its stake in Sensient Technologies by 5.7% during the same period under consideration. Bank of Montreal Can currently holds around 4,672 shares valued at approximately $403,000 after acquiring an additional modest increment of 251 shares.
Lastly but certainly not leastly (if that is even a word), Panagora Asset Management Inc., identified as yet another institutional investor actively involved with Sensient Technologies stockpile adjustments during this season. Its stake has increased by approximately 2%, with Panagora Asset Management Inc. now holding around 6,516 shares worth an estimated $547,000 after acquiring a meager yet discernible addition of 127 shares.
Interestingly, despite the growing interest from institutional investors, it is important to highlight that these entities collectively possess only 88.66% of Sensient Technologies’ total stock.
Indeed, headlines have been bustling with activity surrounding Sensient Technologies. In other news, the major shareholder Winder Investment Pte Ltd recently carried out a transaction involving the sale of approximately 6,304,914 shares of the company’s stock on Monday, July 3rd. This significant sale occurred at an average price of $71.13 per share, ultimately yielding a total value of $448,468,532.82. The insider ownership now stands at 1.35% of the company’s stock.
On Thursday, September 14th, Sensient Technologies opened at $62.02 on the New York Stock Exchange (NYSE). With a market capitalization currently standing at $2.62 billion and a price-to-earnings ratio of 19.69 accompanied by a beta of 0.87, it is evident that Sensient Technologies holds a significant position in the market as a specialty chemicals company.
Over the past year, however, Sensient Technologies has experienced fluctuations in its stock price ranging from a low point of $57.36 to a high point of $79.19 over this same period—a true testament to its volatility in today’s market environment.
As investors ponder over this complex situation surrounding Sensient Technologies and its ever-evolving landscape, only time will tell how these developments will shape the future path for this remarkable company and its stakeholders alike.
Information for this article was sourced from various financial reports and filings available through official channels such as Securities and Exchange Commission (SEC) filings and stock analysis platforms focusing on Sensient Technologies stock (NYSE: SXT).
