Sensient Technologies (NYSE:SXT) Reaches New 12-Month High - What's Next?

Key Points

• Sensient Technologies Corporation's stock reached a new 52-week high of $118.62, closing at $116.04 with a trading volume of over 500,000 shares.
• Analysts have raised their price targets for the stock, with Robert W. Baird increasing their target from $93.00 to $125.00 and assigning an "outperform" rating.
• The company announced a quarterly dividend of $0.41 per share, with a dividend yield of 1.4%, reflecting a payout ratio of 51.74%.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $118.62 and last traded at $116.04, with a volume of 500239 shares changing hands. The stock had previously closed at $116.62.

Analysts Set New Price Targets

SXT has been the topic of several research reports. Robert W. Baird raised their target price on 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 began coverage on Sensient Technologies in a research report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 price objective on the stock.

Sensient Technologies Stock Performance

The stock has a market cap of $4.93 billion, a PE ratio of 36.61 and a beta of 0.58. The company has a quick ratio of 1.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $104.76 and a 200 day moving average of $88.31.

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, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $414.23 million during 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 quarter last year, the firm earned $0.77 earnings per share. Equities analysts predict that Sensient Technologies Corporation will post 3.1 EPS for the current fiscal year.

Sensient Technologies Announces Dividend

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

Institutional Investors Weigh In On Sensient Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Sensient Technologies by 132.6% during the first quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 248 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Sensient Technologies by 2.3% in the first quarter. Principal Financial Group Inc. now owns 220,906 shares of the specialty chemicals company's stock valued at $16,442,000 after buying an additional 5,011 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Sensient Technologies by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 55,482 shares of the specialty chemicals company's stock valued at $3,954,000 after buying an additional 6,624 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Sensient Technologies in the first quarter valued at $224,000. Finally, Invesco Ltd. grew its stake in shares of Sensient Technologies by 4.0% in the fourth quarter. Invesco Ltd. now owns 185,490 shares of the specialty chemicals company's stock valued at $13,218,000 after buying an additional 7,148 shares in the last quarter. Institutional investors and hedge funds own 90.86% of the company's stock.

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.

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