Sensient Technologies Corporation (NYSE:SXT) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.33 per share by the specialty chemicals company on Friday, December 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, November 3rd. This is a positive change from Sensient Technologies Corporation’s previous quarterly dividend of $0.30.
Sensient Technologies Corporation has raised its dividend by an average of 6.8% annually over the last three years and has raised its dividend every year for the last 5 years. Sensient Technologies Corporation has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Sensient Technologies Corporation to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 34.9%.
Sensient Technologies Corporation (NYSE SXT) traded up 0.12% during midday trading on Friday, hitting $77.98. 355,299 shares of the company traded hands. Sensient Technologies Corporation has a 12-month low of $71.21 and a 12-month high of $84.98. The stock has a 50 day moving average price of $77.01 and a 200-day moving average price of $78.21. The company has a market cap of $3.42 billion, a PE ratio of 31.41 and a beta of 1.09.
Sensient Technologies Corporation (NYSE:SXT) last released its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $353.52 million for the quarter. Sensient Technologies Corporation had a return on equity of 17.34% and a net margin of 7.89%. During the same period in the prior year, the business earned $0.83 EPS. Analysts expect that Sensient Technologies Corporation will post $3.41 EPS for the current year.
A number of brokerages recently issued reports on SXT. Zacks Investment Research raised Sensient Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub lowered Sensient Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Berenberg Bank assumed coverage on Sensient Technologies Corporation in a research report on Friday, September 22nd. They set a “buy” rating and a $88.30 price target on the stock. Finally, KeyCorp reaffirmed a “buy” rating and set a $90.00 price target on shares of Sensient Technologies Corporation in a research report on Thursday, August 24th.
Sensient Technologies Corporation announced that its Board of Directors has initiated a share buyback plan on Thursday, October 19th that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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Sensient Technologies Corporation Company Profile
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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