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

Sensient Technologies Corporation (NYSE:SXT - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $110.80 and last traded at $108.68, with a volume of 244 shares trading hands. The stock had previously closed at $108.63.

Analysts Set New Price Targets

Several research firms recently weighed in on SXT. CJS Securities started coverage on shares of Sensient Technologies in a report on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 price objective for the company. Robert W. Baird upped their price target 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. Finally, Wall Street Zen cut Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd.

Sensient Technologies Stock Up 0.7%

The business's 50 day simple moving average is $97.50 and its 200 day simple moving average is $82.45. The company has a quick ratio of 1.74, a current ratio of 4.34 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4.65 billion, a PE ratio of 36.23 and a beta of 0.56.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted 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 8.19% and a return on equity of 12.14%. The firm had revenue of $392.33 million for the quarter, compared to analysts' expectations of $387.70 million. During the same period in the previous year, the company posted $0.73 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast that Sensient Technologies Corporation will post 3.1 EPS for the current year.

Sensient Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a dividend of $0.41 per share. The ex-dividend date was Monday, May 12th. This represents a $1.64 dividend on an annualized basis and a yield of 1.50%. Sensient Technologies's payout ratio is presently 54.30%.

Insiders Place Their Bets

In other news, Director Mario Ferruzzi sold 1,668 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $95.45, for a total value of $159,210.60. Following the completion of the sale, the director directly owned 7,946 shares of the company's stock, valued at $758,445.70. This represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sensient Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Freemont Capital Pte Ltd purchased a new stake in shares of Sensient Technologies during the fourth quarter worth $449,288,000. Congress Asset Management Co. purchased a new stake in shares of Sensient Technologies during the 1st quarter worth about $49,984,000. Norges Bank acquired a new stake in shares of Sensient Technologies during the 4th quarter valued at about $45,757,000. Marshall Wace LLP bought a new stake in shares of Sensient Technologies in the 4th quarter valued at approximately $24,490,000. Finally, Nuveen LLC acquired a new position in Sensient Technologies in the first quarter worth approximately $24,434,000. 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.