Sensient Technologies Corporation (NYSE:SXT - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Monday, August 4th will be paid a dividend of 0.41 per share by the specialty chemicals company on Tuesday, September 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.49%.
Sensient Technologies has a dividend payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings.
Sensient Technologies Stock Up 1.6%
SXT stock traded up $1.71 during midday trading on Thursday, hitting $109.97. The company's stock had a trading volume of 678,033 shares, compared to its average volume of 347,923. The company has a market cap of $4.67 billion, a PE ratio of 36.41 and a beta of 0.56. Sensient Technologies has a 12 month low of $66.14 and a 12 month high of $110.70. The company has a current ratio of 4.34, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The firm's 50-day moving average is $99.52 and its 200-day moving average is $84.22.
Sensient Technologies (NYSE:SXT - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $392.33 million for the quarter, compared to analysts' expectations of $387.70 million. Sensient Technologies had a return on equity of 12.14% and a net margin of 8.19%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. On average, equities research analysts forecast that Sensient Technologies will post 3.1 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SXT. CJS Securities began coverage on Sensient Technologies in a research note on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 price target for the company. Robert W. Baird increased their price target on Sensient Technologies from $93.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd.
Get Our Latest Stock Report on SXT
Insider Buying and Selling at Sensient Technologies
In other news, Director Mario Ferruzzi sold 1,668 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $95.45, for a total transaction of $159,210.60. Following the completion of the transaction, the director owned 7,946 shares in the company, valued at $758,445.70. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
Institutional Trading of Sensient Technologies
Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Sensient Technologies during the first quarter valued at approximately $119,000. United Services Automobile Association bought a new position in Sensient Technologies in the first quarter worth approximately $201,000. Royal Bank of Canada raised its stake in Sensient Technologies by 19.3% in the first quarter. Royal Bank of Canada now owns 4,952 shares of the specialty chemicals company's stock worth $369,000 after buying an additional 802 shares in the last quarter. AQR Capital Management LLC raised its stake in Sensient Technologies by 103.2% in the first quarter. AQR Capital Management LLC now owns 8,852 shares of the specialty chemicals company's stock worth $647,000 after buying an additional 4,496 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sensient Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,091 shares of the specialty chemicals company's stock worth $1,868,000 after buying an additional 1,107 shares in the last quarter. Institutional investors own 90.86% of the company's stock.
Sensient Technologies Company Profile
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Get Free Report)
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.
Further Reading
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