Sensient Technologies (NYSE:SXT) Hits New 1-Year High - Here's Why

Key Points

• Sensient Technologies shares reached a new 52-week high of $115.40 during trading, closing at $113.69 with a volume of 25,340 shares.
• Analysts have raised their price target for the company, with Robert W. Baird increasing it from $93.00 to $125.00 and maintaining an "outperform" rating.
• The company reported an earnings per share (EPS) of $0.94 for the most recent quarter, exceeding analysts' estimates and achieving a year-over-year revenue increase of 2.7%.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $115.40 and last traded at $113.69, with a volume of 25340 shares traded. The stock had previously closed at $114.29.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SXT. CJS Securities initiated coverage on shares of Sensient Technologies in a report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 target price on the stock. Robert W. Baird increased their price objective on shares of Sensient Technologies from $93.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd.

Sensient Technologies Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 4.25 and a quick ratio of 1.78. The company has a market capitalization of $4.94 billion, a P/E ratio of 36.71 and a beta of 0.58. The company has a fifty day moving average price of $104.33 and a 200 day moving average price of $88.03.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted its earnings results on Friday, July 25th. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.06. The company had revenue of $414.23 million for the quarter, compared to analysts' expectations of $417.60 million. Sensient Technologies had a return on equity of 12.56% and a net margin of 8.56%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, sell-side analysts forecast that Sensient Technologies Corporation will post 3.1 EPS for the current fiscal year.

Sensient Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 4th. Sensient Technologies's dividend payout ratio (DPR) is 51.74%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SXT. Freemont Capital Pte Ltd acquired a new position in shares of Sensient Technologies during the fourth quarter valued at $449,288,000. Westwood Holdings Group Inc. acquired a new position in shares of Sensient Technologies during the second quarter valued at $91,280,000. Congress Asset Management Co. acquired a new position in shares of Sensient Technologies during the first quarter valued at $49,984,000. Marshall Wace LLP acquired a new position in shares of Sensient Technologies during the fourth quarter valued at $24,490,000. Finally, Nuveen LLC acquired a new position in shares of Sensient Technologies during the first quarter valued at $24,434,000. 90.86% of the stock is owned by institutional investors and hedge funds.

Sensient Technologies Company Profile

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.