Sensient Technologies Corp (NYSE:SXT) President of Flavors Group, Steven B. Morris, recently sold 400 shares of the company's common stock, according to the latest SEC filings. The transaction, which took place on April 30, 2024, was executed at a price of $72.9675 per share, resulting in a total value of $29,187.
The sale has adjusted Morris's direct holdings in the company to 4,082.175 shares of common stock. In addition to his direct holdings, Morris also has an indirect stake in the company through Sensient's Employee Stock Ownership Plan (ESOP), with 1,053.78 shares attributed to this plan at the end of the month preceding the filing.
Moreover, the filing disclosed Morris's holdings in performance stock units (PSUs), which are contingent rights to receive shares of Sensient's common stock. As of the filing date, Morris holds 2,962 PSUs, which are part of an award under Sensient's 2017 Stock Plan. These units are subject to a three-year performance period ending on December 31, 2026, with vesting based on specific EBITDA growth and return on invested capital criteria.
Investors monitoring insider transactions at Sensient Technologies may view these sales and holdings as part of the ongoing financial activities of the company's executives. The stock sale and the details of the executive's remaining stakes in the company provide a snapshot of insider confidence and financial decisions within Sensient Technologies' upper management.
InvestingPro Insights
As Sensient Technologies Corp (NYSE:SXT) navigates through its financial year, investors and stakeholders pay close attention to the movements within the company, including insider transactions. Steven B. Morris's recent sale of company stock is one aspect to consider, but it's also beneficial to look at Sensient Technologies through the lens of current financial metrics and expert analysis.
According to InvestingPro data, Sensient Technologies has a market capitalization of $3.12 billion and trades with a P/E ratio of 28.42, reflecting market expectations of the company's future earnings. Despite a modest revenue growth of 1.49% over the last twelve months as of Q1 2024, the company has shown a strong price return of 17.26% over the last three months. This could be indicative of investor confidence in the company's strategy and performance.
Two InvestingPro Tips that stand out for Sensient Technologies include the company's consistent dividend payments for 54 consecutive years and its stock trading near its 52-week high, with the price at 93.57% of the peak. These factors suggest a stable investment with a potential for continued growth, especially when considering the company's strong return over the last three months and large price uptick over the last six months.
For those looking to delve deeper into Sensient Technologies' financial health and future prospects, InvestingPro provides additional insights and tips, which could further inform investment decisions. There are currently 9 additional InvestingPro Tips available for Sensient Technologies at https://www.investing.com/pro/SXT. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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