Sensient Technologies (NYSE:SXT) Sets New 52-Week High - Should You Buy?

Sensient Technologies Corporation (NYSE:SXT - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $98.50 and last traded at $98.34, with a volume of 365614 shares. The stock had previously closed at $95.89.

Wall Street Analysts Forecast Growth

SXT has been the topic of a number of analyst reports. CJS Securities initiated coverage on shares of Sensient Technologies in a report on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 price objective on the stock. Wall Street Zen lowered shares of Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Finally, Robert W. Baird lifted their price target on Sensient Technologies from $85.00 to $93.00 and gave the company an "outperform" rating in a report on Monday, April 28th.

Sensient Technologies Stock Down 0.4%

The company has a market cap of $4.17 billion, a price-to-earnings ratio of 32.51 and a beta of 0.56. The stock has a 50-day simple moving average of $93.09 and a 200-day simple moving average of $80.01. The company has a current ratio of 4.34, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

Sensient Technologies (NYSE:SXT - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $392.33 million for the quarter, compared to analysts' expectations of $387.70 million. Sensient Technologies had a net margin of 8.19% and a return on equity of 12.14%. The company's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, analysts predict that Sensient Technologies Corporation will post 3.1 EPS for the current year.

Sensient Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, May 12th. Sensient Technologies's dividend payout ratio is currently 54.30%.

Insider Activity

In related news, Director Mario Ferruzzi sold 1,668 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $95.45, for a total transaction of $159,210.60. Following the sale, the director now owns 7,946 shares of the company's stock, valued at $758,445.70. The trade was 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 at the SEC website. Insiders own 1.20% of the company's stock.

Institutional Trading of Sensient Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SXT. CWM LLC grew its holdings in Sensient Technologies by 8.6% during the first quarter. CWM LLC now owns 1,894 shares of the specialty chemicals company's stock worth $141,000 after acquiring an additional 150 shares during the period. Xponance Inc. boosted its position in shares of Sensient Technologies by 5.0% during the 1st quarter. Xponance Inc. now owns 3,169 shares of the specialty chemicals company's stock valued at $236,000 after purchasing an additional 152 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Sensient Technologies by 4.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,408 shares of the specialty chemicals company's stock worth $314,000 after purchasing an additional 203 shares during the last quarter. Versor Investments LP raised its holdings in shares of Sensient Technologies by 5.1% in the 4th quarter. Versor Investments LP now owns 4,521 shares of the specialty chemicals company's stock worth $322,000 after purchasing an additional 221 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Sensient Technologies by 132.6% in the 1st quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 90.86% of the company's stock.

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.