Sensient Technologies (NYSE:SXT) Hits New 12-Month High Following Earnings Beat

Shares of Sensient Technologies Co. (NYSE:SXT - Get Free Report) hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $86.75 and last traded at $84.83, with a volume of 74678 shares changing hands. The stock had previously closed at $80.14.

The specialty chemicals company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $392.33 million during the quarter, compared to analysts' expectations of $387.70 million. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. Sensient Technologies's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 EPS.

Sensient Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.74%. Sensient Technologies's payout ratio is 54.30%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com downgraded Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Robert W. Baird lifted their price target on shares of Sensient Technologies from $85.00 to $93.00 and gave the company an "outperform" rating in a research note on Monday.

Institutional Trading of Sensient Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Freemont Capital Pte Ltd bought a new position in Sensient Technologies during the fourth quarter worth about $449,288,000. Congress Asset Management Co. bought a new stake in Sensient Technologies during the first quarter worth $49,984,000. Norges Bank acquired a new position in shares of Sensient Technologies during the 4th quarter worth $45,757,000. Marshall Wace LLP bought a new position in Sensient Technologies in the fourth quarter valued at about $24,490,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Sensient Technologies in the fourth quarter worth about $7,270,000. 90.86% of the stock is owned by institutional investors and hedge funds.

Sensient Technologies Trading Down 0.1 %

The business's 50 day simple moving average is $74.19 and its two-hundred day simple moving average is $75.03. The stock has a market cap of $3.99 billion, a P/E ratio of 32.05 and a beta of 0.63. The company has a quick ratio of 1.34, a current ratio of 3.55 and a debt-to-equity ratio of 0.58.

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.