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

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)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company 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.

Analyst Ratings Changes

Several brokerages recently issued reports on SXT. CJS Securities began coverage on shares of Sensient Technologies in a research report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 price target on the stock. Robert W. Baird boosted their price target 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.

Sensient Technologies Price Performance

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 firm's 50-day moving average is $106.58 and its 200-day moving average is $89.30. The company has a market cap of $5.02 billion, a PE ratio of 37.28 and a beta of 0.58.

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

Sensient Technologies Dividend Announcement

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

Institutional Investors Weigh In On Sensient Technologies

A number of institutional investors have recently made changes to their positions in SXT. Bank of Montreal Can boosted its holdings in Sensient Technologies by 1.3% in the second quarter. Bank of Montreal Can now owns 8,418 shares of the specialty chemicals company's stock worth $829,000 after purchasing an additional 111 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in 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 purchasing an additional 113 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Sensient Technologies by 3.4% in the second quarter. Evergreen Capital Management LLC now owns 4,500 shares of the specialty chemicals company's stock worth $443,000 after purchasing an additional 146 shares during the last quarter. CWM LLC boosted its holdings in Sensient Technologies by 8.6% in the first quarter. CWM LLC now owns 1,894 shares of the specialty chemicals company's stock worth $141,000 after purchasing an additional 150 shares during the last quarter. Finally, Xponance Inc. raised its position in Sensient Technologies by 5.0% in the first quarter. Xponance Inc. now owns 3,169 shares of the specialty chemicals company's stock worth $236,000 after acquiring an additional 152 shares during the period. Hedge funds and other 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.