Sensient Technologies (NYSE:SXT) Stock Price 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) fell 6.8% on Thursday . The stock traded as low as $113.65 and last traded at $112.60. 350,258 shares changed hands during trading, a decline of 1% from the average session volume of 355,106 shares. The stock had previously closed at $120.77.

Analyst Ratings Changes

Several research firms have recently commented on SXT. Robert W. Baird boosted their price target on shares of Sensient Technologies from $93.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. CJS Securities began coverage on shares of Sensient Technologies in a report on Tuesday, June 10th. They set a "market perform" rating and a $95.00 price target on the stock.

Sensient Technologies Price Performance

The stock's 50-day moving average price is $105.75 and its 200 day moving average price is $88.74. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 35.64 and a beta of 0.58. The company has a quick ratio of 1.78, a current ratio of 4.25 and a debt-to-equity ratio of 0.61.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. Sensient Technologies had a net margin of 8.56% and a return on equity of 12.56%. The firm had revenue of $414.23 million during the quarter, compared to analyst estimates of $417.60 million. During the same quarter in the prior year, the business posted $0.77 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that Sensient Technologies Corporation 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 Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend 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 51.74%.

Hedge Funds Weigh In On Sensient Technologies

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Sensient Technologies by 132.6% during the first quarter. GAMMA Investing LLC now owns 435 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 248 shares during the period. Principal Financial Group Inc. grew its position in Sensient Technologies by 2.3% in the first quarter. Principal Financial Group Inc. now owns 220,906 shares of the specialty chemicals company's stock valued at $16,442,000 after purchasing an additional 5,011 shares in the last quarter. Wells Fargo & Company MN grew its position in Sensient Technologies by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 55,482 shares of the specialty chemicals company's stock valued at $3,954,000 after purchasing an additional 6,624 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Sensient Technologies in the first quarter valued at $224,000. Finally, Invesco Ltd. grew its position in Sensient Technologies by 4.0% in the fourth quarter. Invesco Ltd. now owns 185,490 shares of the specialty chemicals company's stock valued at $13,218,000 after purchasing an additional 7,148 shares in the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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.