Sensient Technologies (NYSE:SXT) Hits New 1-Year High After Earnings Beat

Key Points

• Sensient Technologies reached a new 52-week high of $114.59 following a quarterly earnings announcement, reporting an EPS of $0.94, surpassing the consensus estimate of $0.88.
• The company declared a quarterly dividend of $0.41 per share, with a dividend yield of 1.44%, to be paid on September 2nd.
• Analysts have raised the target price for Sensient Technologies, with Robert W. Baird increasing it from $93.00 to $125.00 and giving an "outperform" rating.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report) reached a new 52-week high on Saturday after the company announced better than expected quarterly earnings. The stock traded as high as $114.59 and last traded at $113.54, with a volume of 990794 shares changing hands. The stock had previously closed at $110.00.

The specialty chemicals company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $414.23 million for the quarter, compared to analyst estimates of $417.60 million. Sensient Technologies had a net margin of 8.19% and a return on equity of 12.14%. The firm's revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share.

Sensient Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be given a $0.41 dividend. The ex-dividend date is Monday, August 4th. This represents a $1.64 annualized dividend and a dividend yield of 1.44%. Sensient Technologies's dividend payout ratio (DPR) is 54.30%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SXT shares. Robert W. Baird lifted their target price on shares of Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. CJS Securities started coverage on shares of Sensient Technologies in a research report on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 target price on the stock.

Insider Activity

In other news, Director Mario Ferruzzi sold 1,668 shares of Sensient Technologies stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $95.45, for a total value of $159,210.60. Following the sale, 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 Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sensient Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC lifted its stake in shares of Sensient Technologies by 1.6% in the second quarter. Yousif Capital Management LLC now owns 15,879 shares of the specialty chemicals company's stock worth $1,564,000 after buying an additional 245 shares in the last quarter. CWM LLC lifted its stake in shares of Sensient Technologies by 12.4% in the second quarter. CWM LLC now owns 2,128 shares of the specialty chemicals company's stock worth $210,000 after buying an additional 234 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Sensient Technologies by 14.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,369 shares of the specialty chemicals company's stock worth $332,000 after buying an additional 415 shares in the last quarter. US Bancorp DE lifted its stake in shares of Sensient Technologies by 9.0% in the second quarter. US Bancorp DE now owns 6,928 shares of the specialty chemicals company's stock worth $683,000 after buying an additional 573 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Sensient Technologies by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 12,478 shares of the specialty chemicals company's stock worth $1,229,000 after buying an additional 113 shares in the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

Sensient Technologies Trading Up 3.2%

The company has a debt-to-equity ratio of 0.62, a current ratio of 4.34 and a quick ratio of 1.74. The company's 50 day moving average price is $100.54 and its two-hundred day moving average price is $84.96. The stock has a market capitalization of $4.82 billion, a PE ratio of 37.59 and a beta of 0.56.

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.

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