Sensient Technologies (NYSE:SXT) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Sensient Technologies (NYSE:SXT) from a hold rating to a buy rating in a report published on Friday.

Sensient Technologies Stock Performance

Shares of Sensient Technologies stock opened at $73.23 on Friday. The firm has a market capitalization of $3.10 billion, a P/E ratio of 24.91 and a beta of 0.71. Sensient Technologies has a 52 week low of $66.15 and a 52 week high of $82.99. The company has a quick ratio of 1.34, a current ratio of 3.55 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $72.70 and its two-hundred day moving average is $75.27.

Sensient Technologies (NYSE:SXT) last announced its quarterly earnings results on Friday, February 14th. The specialty chemicals company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $376.40 million for the quarter, compared to analyst estimates of $375.10 million. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Research analysts forecast that Sensient Technologies will post 3.1 EPS for the current fiscal year.

Sensient Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 4th were paid a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.64 annualized dividend and a yield of 2.24%. Sensient Technologies’s dividend payout ratio is currently 55.78%.

Institutional Investors Weigh In On Sensient Technologies

Several large investors have recently modified their holdings of the company. Freemont Capital Pte Ltd acquired a new stake in shares of Sensient Technologies in the fourth quarter valued at approximately $449,288,000. Vanguard Group Inc. boosted its holdings in shares of Sensient Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,064,724 shares of the specialty chemicals company’s stock valued at $360,912,000 after acquiring an additional 36,406 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Sensient Technologies by 1.1% in the fourth quarter. Janus Henderson Group PLC now owns 2,257,033 shares of the specialty chemicals company’s stock valued at $160,836,000 after acquiring an additional 25,230 shares during the period. State Street Corp boosted its holdings in shares of Sensient Technologies by 3.7% in the third quarter. State Street Corp now owns 1,694,114 shares of the specialty chemicals company’s stock valued at $135,902,000 after acquiring an additional 60,622 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sensient Technologies by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,223,728 shares of the specialty chemicals company’s stock valued at $87,203,000 after acquiring an additional 26,119 shares during the period. 90.86% of the stock is owned by institutional investors and hedge funds.

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.