Sensient Technologies (NYSE:SXT) Sets New 12-Month High - Here's Why

Shares of Sensient Technologies Co. (NYSE:SXT - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $98.27 and last traded at $94.81, with a volume of 332848 shares trading hands. The stock had previously closed at $95.64.

Analyst Ratings Changes

Several analysts have recently weighed in on SXT shares. Robert W. Baird boosted their price target on Sensient Technologies from $85.00 to $93.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. StockNews.com lowered shares of Sensient Technologies from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd.

Sensient Technologies Stock Performance

The firm has a market capitalization of $4.03 billion, a P/E ratio of 32.25 and a beta of 0.58. The company has a 50-day moving average of $78.69 and a 200-day moving average of $76.05. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Sensient Technologies (NYSE:SXT - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $392.33 million during the quarter, compared to analysts' expectations of $387.70 million. Sensient Technologies had a return on equity of 11.93% and a net margin of 8.01%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. On average, equities analysts anticipate that Sensient Technologies Co. will post 3.1 earnings per share for the current fiscal year.

Sensient Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be given a $0.41 dividend. 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 1.73%. Sensient Technologies's dividend payout ratio (DPR) is currently 54.30%.

Insider Activity

In other Sensient Technologies news, Director Mario Ferruzzi sold 1,668 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $95.45, for a total value of $159,210.60. Following the transaction, the director now directly owns 7,946 shares of the company's stock, valued at approximately $758,445.70. The trade was a 17.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Trading of Sensient Technologies

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in Sensient Technologies by 309.3% in the third quarter. Barclays PLC now owns 77,260 shares of the specialty chemicals company's stock valued at $6,197,000 after purchasing an additional 58,386 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sensient Technologies by 22.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,938 shares of the specialty chemicals company's stock worth $8,017,000 after buying an additional 18,235 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Sensient Technologies by 25.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 16,334 shares of the specialty chemicals company's stock worth $1,164,000 after acquiring an additional 3,298 shares in the last quarter. SG Americas Securities LLC grew its stake in Sensient Technologies by 32.0% in the fourth quarter. SG Americas Securities LLC now owns 2,229 shares of the specialty chemicals company's stock valued at $159,000 after acquiring an additional 541 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Sensient Technologies by 9.1% during the fourth quarter. Inspire Investing LLC now owns 5,617 shares of the specialty chemicals company's stock valued at $400,000 after acquiring an additional 470 shares in the last quarter. 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.

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