Sensient Technologies (NYSE:SXT) Shares Down 10.4% - Here's What Happened

Key Points

• Sensient Technologies shares fell by 10.4% in trading on Wednesday, closing at $99.74, down from a previous close of $111.31.
• Brokerage firm Robert W. Baird raised their price target for Sensient Technologies from $93.00 to $125.00, maintaining an "outperform" rating.
• The company reported earnings of $0.94 per share for the last quarter, exceeding estimates, but revenue of $414.23 million fell short of predictions of $417.60 million.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report)'s share price dropped 10.4% during trading on Wednesday . The company traded as low as $97.46 and last traded at $99.74. Approximately 500,464 shares were traded during trading, an increase of 34% from the average daily volume of 372,126 shares. The stock had previously closed at $111.31.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SXT. Robert W. Baird upped their price target on Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. CJS Securities initiated coverage on shares of Sensient Technologies in a research note on Tuesday, June 10th. They issued a "market perform" rating and a $95.00 target price for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.00.

Sensient Technologies Price Performance

The company's fifty day moving average price is $112.17 and its two-hundred day moving average price is $94.04. 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 company has a market cap of $4.51 billion, a price-to-earnings ratio of 33.53 and a beta of 0.57.

Sensient Technologies (NYSE:SXT - Get Free Report) last announced its earnings results on Friday, July 25th. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.06. The business had revenue of $414.23 million for the quarter, compared to analyst estimates of $417.60 million. Sensient Technologies had a return on equity of 12.56% and a net margin of 8.56%.During the same quarter last year, the firm earned $0.77 EPS. Sensient Technologies's revenue for the quarter was up 2.7% compared to the same quarter last year. Sensient Technologies has set its FY 2025 guidance at 3.130-3.230 EPS. On average, equities research analysts forecast that Sensient Technologies Corporation will post 3.1 EPS for the current fiscal year.

Sensient Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 4th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.64 annualized dividend and a yield of 1.5%. Sensient Technologies's dividend payout ratio is 51.74%.

Institutional Investors Weigh In On Sensient Technologies

Large investors have recently made changes to their positions in the stock. Private Trust Co. NA bought a new stake in Sensient Technologies during the second quarter worth $29,000. GAMMA Investing LLC raised its holdings in shares of Sensient Technologies by 132.6% in the 1st quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 248 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Sensient Technologies by 181.1% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock worth $47,000 after purchasing an additional 306 shares during the period. Gables Capital Management Inc. acquired a new position in Sensient Technologies during the second quarter worth approximately $59,000. Finally, ST Germain D J Co. Inc. bought a new stake in Sensient Technologies in the second quarter valued at approximately $89,000. Institutional investors and hedge funds own 90.86% of the company's stock.

Sensient Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.