Zacks Investment Research upgraded shares of Sensient Technologies Corporation (NYSE:SXT) from a hold rating to a buy rating in a research report report published on Saturday. Zacks Investment Research currently has $92.00 price objective on the specialty chemicals company’s stock.
According to Zacks, “Sensient Technologies Corporation is a leading global supplier of colors, flavors and fragrances. Using sophisticated technologies at facilities around the world, the Company develops unique formulations and ingredients that bring life to its customers’ products. Sensient manufactures a full range of ink-jet inks, cosmetic and pharmaceutical additives, as well as colors and flavors for many of the world’s best-known brands. (Press Release) “
Shares of Sensient Technologies Corporation (NYSE SXT) opened at 81.86 on Friday. Sensient Technologies Corporation has a 12 month low of $67.40 and a 12 month high of $84.55. The firm has a market cap of $3.62 billion, a PE ratio of 33.73 and a beta of 1.06. The stock has a 50 day moving average price of $80.94 and a 200 day moving average price of $79.57.
Sensient Technologies Corporation (NYSE:SXT) last released its quarterly earnings data on Tuesday, April 25th. The specialty chemicals company reported $0.82 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.82. Sensient Technologies Corporation had a net margin of 7.83% and a return on equity of 17.16%. The business had revenue of $341.40 million during the quarter. During the same quarter in the prior year, the company earned $0.75 EPS. On average, equities research analysts expect that Sensient Technologies Corporation will post $3.41 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, May 10th. Sensient Technologies Corporation’s dividend payout ratio is currently 49.59%.
Several hedge funds have recently added to or reduced their stakes in SXT. Horan Securities Inc. purchased a new stake in Sensient Technologies Corporation during the first quarter worth approximately $124,000. Tower Research Capital LLC TRC raised its position in shares of Sensient Technologies Corporation by 5,636.7% in the first quarter. Tower Research Capital LLC TRC now owns 1,721 shares of the specialty chemicals company’s stock worth $136,000 after buying an additional 1,691 shares during the last quarter. Airain ltd bought a new position in shares of Sensient Technologies Corporation during the first quarter worth $202,000. Gideon Capital Advisors Inc. bought a new position in shares of Sensient Technologies Corporation during the fourth quarter worth $203,000. Finally, Scout Investments Inc. bought a new position in shares of Sensient Technologies Corporation during the first quarter worth $210,000. Institutional investors and hedge funds own 90.30% of the company’s stock.
About Sensient Technologies Corporation
Sensient Technologies Corporation is a manufacturer and marketer of colors, flavors and fragrances. The Company uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals.
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