Sensient Technologies (NYSE:SXT) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Sensient Technologies Corporation (NYSE:SXT)’s share price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Rothschild & Co Redburn initiated coverage on Sensient Technologies in a report on Wednesday, July 8th. They set a “neutral” rating and a $125.00 price target for the company. Robert W. Baird upped their price target on Sensient Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Wall Street Zen raised Sensient Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 19th. Weiss Ratings downgraded Sensient Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Finally, UBS Group lifted their price objective on Sensient Technologies from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.67.

Sensient Technologies Trading Up 0.5%

The firm’s fifty day simple moving average is $131.87 and its two-hundred day simple moving average is $113.17.

Insider Activity at Sensient Technologies

In other Sensient Technologies news, Director Mario Ferruzzi sold 1,200 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $129.48, for a total value of $155,376.00. Following the completion of the sale, the director owned 7,352 shares in the company, valued at approximately $951,936.96. This represents a 14.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Sensient Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SXT. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Sensient Technologies in the second quarter valued at about $26,000. Silvant Capital Management LLC bought a new position in shares of Sensient Technologies in the second quarter worth about $27,000. Global Retirement Partners LLC purchased a new stake in shares of Sensient Technologies during the second quarter worth about $36,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Sensient Technologies during the second quarter worth about $37,000. Finally, GAMMA Investing LLC grew its position in shares of Sensient Technologies by 35.2% during the second quarter. GAMMA Investing LLC now owns 938 shares of the specialty chemicals company’s stock worth $116,000 after purchasing an additional 244 shares in the last quarter. 90.86% of the stock is owned by institutional investors.

Sensient Technologies Company Profile

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.