Sensient Technologies (NYSE:SXT) Shares Down 6.8% - Here's Why

Key Points

• Sensient Technologies' stock price fell 6.8% on Thursday, closing at $112.60 after trading as low as $113.65.
• The company recently declared a quarterly dividend of $0.41 per share, representing a 1.4% dividend yield.
• Analysts have mixed ratings, with Robert W. Baird raising their price target to $125.00, while CJS Securities set a target of $95.00.

Sensient Technologies Corporation (NYSE:SXT - Get Free Report)'s share price dropped 6.8% during trading on Thursday . The stock traded as low as $113.65 and last traded at $112.60. Approximately 350,258 shares traded hands during trading, a decline of 1% from the average daily volume of 355,106 shares. The stock had previously closed at $120.77.

Analyst Upgrades and Downgrades

SXT has been the subject of several recent research reports. CJS Securities initiated coverage on shares of Sensient Technologies in a research report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 target price for the company. Robert W. Baird upped their target price on shares of Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Sensient Technologies Stock Performance

The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 35.92 and a beta of 0.58. The company has a current ratio of 4.25, a quick ratio of 1.78 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average is $107.32 and its two-hundred day moving average is $89.94.

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 for the quarter, topping analysts' consensus estimates of $0.88 by $0.06. The firm had revenue of $414.23 million during the quarter, compared to analyst estimates of $417.60 million. Sensient Technologies had a net margin of 8.56% and a return on equity of 12.56%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 EPS. Sensient Technologies has set its FY 2025 guidance at 3.130-3.230 EPS. Analysts expect that Sensient Technologies Corporation will post 3.1 earnings per share for the current fiscal year.

Sensient Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 4th. Sensient Technologies's dividend payout ratio is presently 51.74%.

Institutional Investors Weigh In On Sensient Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marex Group plc bought a new stake in shares of Sensient Technologies in the 2nd quarter valued at about $678,000. Westwood Holdings Group Inc. bought a new stake in shares of Sensient Technologies in the 2nd quarter valued at about $91,280,000. Public Sector Pension Investment Board raised its holdings in shares of Sensient Technologies by 7.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 144,741 shares of the specialty chemicals company's stock valued at $14,260,000 after purchasing an additional 10,416 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Sensient Technologies by 3.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,500 shares of the specialty chemicals company's stock valued at $443,000 after purchasing an additional 146 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Sensient Technologies by 397.1% during the second quarter. Tower Research Capital LLC TRC now owns 5,627 shares of the specialty chemicals company's stock worth $554,000 after acquiring an additional 4,495 shares during the last quarter. 90.86% of the stock is owned by institutional investors.

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.