Sensient Technologies (NYSE:SXT) Reaches New 52-Week High - Here's Why

Shares of Sensient Technologies Co. (NYSE:SXT - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $95.11 and last traded at $95.05, with a volume of 333131 shares. The stock had previously closed at $93.61.

Analyst Ratings Changes

SXT has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Sensient Technologies from $85.00 to $93.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. StockNews.com lowered Sensient Technologies from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd.

Sensient Technologies Trading Up 1.5 %

The stock has a market cap of $4.03 billion, a P/E ratio of 32.33 and a beta of 0.58. The firm's 50 day simple moving average is $76.64 and its two-hundred day simple moving average is $75.57. 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 (NYSE:SXT - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. The firm had revenue of $392.33 million for the quarter, compared to analyst estimates of $387.70 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. Sensient Technologies's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Sensient Technologies Co. will post 3.1 earnings per share for the current fiscal year.

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 given 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 yield of 1.73%. Sensient Technologies's dividend payout ratio is currently 54.30%.

Institutional Investors Weigh In On Sensient Technologies

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Sensient Technologies by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,938 shares of the specialty chemicals company's stock worth $8,017,000 after acquiring an additional 18,235 shares during the period. Wells Fargo & Company MN increased 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 purchasing an additional 6,624 shares during the period. Invesco Ltd. raised its holdings in shares of Sensient Technologies by 4.0% during 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 during the last quarter. Principal Financial Group Inc. boosted its position in shares of Sensient Technologies by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 215,895 shares of the specialty chemicals company's stock worth $15,385,000 after buying an additional 6,984 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Sensient Technologies by 34.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,449 shares of the specialty chemicals company's stock worth $1,742,000 after buying an additional 6,247 shares in the last quarter. 90.86% of the stock is owned by institutional investors and hedge funds.

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.

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