Sensient Technologies (NYSE:SXT) Stock Breaks Above 50-Day Moving Average – Should You Sell?

Sensient Technologies Corporation (NYSE:SXT)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $131.87 and traded as high as $132.58. Sensient Technologies shares last traded at $132.05, with a volume of 357,468 shares changing hands.

Wall Street Analysts Forecast Growth

SXT has been the topic of a number of recent analyst reports. Zacks Research cut shares of Sensient Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Rothschild & Co Redburn began coverage on shares of Sensient Technologies in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $125.00 price objective for the company. Wall Street Zen raised shares of Sensient Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 19th. Robert W. Baird upped their target price on shares of Sensient Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings lowered shares of Sensient Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.67.

Sensient Technologies Stock Up 0.1%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.72 and a current ratio of 4.39. The firm’s 50-day moving average is $131.88 and its 200 day moving average is $113.51. The firm has a market capitalization of $5.61 billion, a PE ratio of 35.51 and a beta of 0.84.

Insider Activity

In other news, Director Mario Ferruzzi sold 1,200 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $129.48, for a total value of $155,376.00. Following the sale, the director directly owned 7,352 shares in the company, valued at $951,936.96. This represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vise Technologies Inc. increased its holdings in shares of Sensient Technologies by 8.2% during the 3rd quarter. Vise Technologies Inc. now owns 2,387 shares of the specialty chemicals company’s stock worth $312,000 after buying an additional 180 shares during the last quarter. Schwartz Investment Counsel Inc. acquired a new position in Sensient Technologies in the third quarter valued at $217,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Sensient Technologies during the 3rd quarter worth about $1,229,000. Tower View Wealth Management LLC raised its holdings in Sensient Technologies by 0.9% in the third quarter. Tower View Wealth Management LLC now owns 17,902 shares of the specialty chemicals company’s stock valued at $2,340,000 after buying an additional 158 shares during the period. Finally, Gibbs Wealth Management raised its holdings in Sensient Technologies by 6.4% in the third quarter. Gibbs Wealth Management now owns 9,817 shares of the specialty chemicals company’s stock valued at $1,283,000 after buying an additional 591 shares during the period. 90.86% of the stock is currently owned by institutional investors and hedge funds.

About Sensient Technologies

Sensient Technologies Corporation is a global manufacturer of colors, flavors and extracts used in food, beverages, pharmaceuticals, cosmetics and other consumer and industrial products. The company develops customized ingredient solutions designed to improve the appearance, taste, aroma and overall sensory qualities of finished products.

Sensient’s product portfolio includes natural and synthetic food colors, coloring systems, flavor compounds, botanical extracts and other specialty ingredients.