Sensient Technologies (NYSE:SXT) Price Target Raised to $125.00

Sensient Technologies (NYSE:SXT) had its price objective upped by Robert W. Baird from $93.00 to $125.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities analysts have also issued research reports about the stock. CJS Securities initiated coverage on shares of Sensient Technologies in a report on Tuesday, June 10th. They set a “market perform” rating and a $95.00 target price on the stock. Wall Street Zen lowered shares of Sensient Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd.

Sensient Technologies Trading Up 2.6%

Shares of SXT stock opened at $107.90 on Thursday. The business has a 50-day moving average price of $95.64 and a two-hundred day moving average price of $80.90. Sensient Technologies has a 12-month low of $66.15 and a 12-month high of $108.22. The company has a quick ratio of 1.74, a current ratio of 4.34 and a debt-to-equity ratio of 0.62. The firm has a market cap of $4.58 billion, a P/E ratio of 35.73 and a beta of 0.56.

Sensient Technologies (NYSE:SXT) last released its earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $392.33 million during the quarter, compared to the consensus estimate of $387.70 million. Sensient Technologies had a return on equity of 12.14% and a net margin of 8.19%. Sensient Technologies’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. Equities analysts anticipate that Sensient Technologies will post 3.1 EPS for the current fiscal year.

Sensient Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a $0.41 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.64 annualized dividend and a yield of 1.52%. Sensient Technologies’s payout ratio is currently 54.30%.

Insider Buying and Selling at Sensient Technologies

In other news, Director Mario Ferruzzi sold 1,668 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $95.45, for a total transaction of $159,210.60. Following the completion of the sale, the director owned 7,946 shares of the company’s stock, valued at approximately $758,445.70. This represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SXT. Voya Investment Management LLC grew its holdings in Sensient Technologies by 14.0% in the 1st quarter. Voya Investment Management LLC now owns 19,663 shares of the specialty chemicals company’s stock worth $1,464,000 after acquiring an additional 2,408 shares during the last quarter. Strs Ohio bought a new position in shares of Sensient Technologies during the first quarter valued at about $119,000. Intech Investment Management LLC boosted its holdings in shares of Sensient Technologies by 5.9% during the first quarter. Intech Investment Management LLC now owns 27,206 shares of the specialty chemicals company’s stock worth $2,025,000 after purchasing an additional 1,519 shares during the period. Jane Street Group LLC grew its stake in shares of Sensient Technologies by 111.7% in the first quarter. Jane Street Group LLC now owns 52,496 shares of the specialty chemicals company’s stock worth $3,907,000 after purchasing an additional 27,693 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Sensient Technologies by 14.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,151 shares of the specialty chemicals company’s stock worth $8,347,000 after purchasing an additional 13,780 shares during the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

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.