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

Sensient Technologies Co. (NYSE:SXT - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $94.73 and last traded at $94.06, with a volume of 1021607 shares traded. The stock had previously closed at $94.34.

Analysts Set New Price Targets

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

Sensient Technologies Price Performance

The company has a fifty day moving average price of $75.15 and a two-hundred day moving average price of $75.26. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $3.93 billion, a P/E ratio of 31.53 and a beta of 0.63.

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 return on equity of 11.93% and a net margin of 8.01%. The company had revenue of $392.33 million during the quarter, compared to analysts' expectations of $387.70 million. During the same period in the prior year, the firm earned $0.73 earnings per share. Sensient Technologies's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts anticipate that Sensient Technologies Co. will post 3.1 earnings per share for the current year.

Sensient Technologies Dividend Announcement

The business also recently declared 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 is Monday, May 12th. This represents a $1.64 annualized dividend and a yield of 1.77%. Sensient Technologies's dividend payout ratio (DPR) is presently 54.30%.

Institutional Investors Weigh In On Sensient Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SXT. CWM LLC increased its holdings in Sensient Technologies by 8.6% during the first quarter. CWM LLC now owns 1,894 shares of the specialty chemicals company's stock worth $141,000 after buying an additional 150 shares during the last quarter. Xponance Inc. increased its stake in shares of Sensient Technologies by 5.0% during the 1st quarter. Xponance Inc. now owns 3,169 shares of the specialty chemicals company's stock worth $236,000 after purchasing an additional 152 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Sensient Technologies by 4.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,462 shares of the specialty chemicals company's stock valued at $270,000 after purchasing an additional 160 shares during the period. Summit Investment Advisors Inc. lifted its stake in Sensient Technologies by 4.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,408 shares of the specialty chemicals company's stock valued at $314,000 after purchasing an additional 203 shares during the last quarter. Finally, Versor Investments LP grew its holdings in Sensient Technologies by 5.1% during the fourth quarter. Versor Investments LP now owns 4,521 shares of the specialty chemicals company's stock worth $322,000 after purchasing an additional 221 shares during the period. 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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