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

Sensient Technologies Corporation (NYSE:SXT – Get Free Report) crossed 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 trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on SXT shares. Robert W. Baird lifted their price target on shares of Sensient Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. UBS Group lifted their target price on shares of Sensient Technologies from $155.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Zacks Research lowered shares of Sensient Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Weiss Ratings cut Sensient Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Finally, Rothschild & Co Redburn started coverage on Sensient Technologies in a report on Wednesday, July 8th. They set a “neutral” rating and a $125.00 price target on the stock. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.67.

View Our Latest Analysis on SXT

Sensient Technologies Stock Performance

The stock has a 50 day simple moving average of $131.87 and a 200-day simple moving average of $113.17.

Insider Buying and Selling at Sensient Technologies

In related news, Director Mario Ferruzzi sold 1,200 shares of the firm’s 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 transaction, the director owned 7,352 shares of the company’s stock, valued at approximately $951,936.96. This trade represents a 14.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of Sensient Technologies

Several large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Sensient Technologies during the second quarter valued at approximately $26,000. Silvant Capital Management LLC purchased a new position in shares of Sensient Technologies during the 2nd quarter worth $27,000. Global Retirement Partners LLC purchased a new position in shares of Sensient Technologies during the 2nd quarter worth $36,000. Integrated Wealth Concepts LLC purchased a new position in shares of Sensient Technologies during the 2nd quarter worth $37,000. Finally, GAMMA Investing LLC grew its position in shares of Sensient Technologies by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 938 shares of the specialty chemicals company’s stock valued at $116,000 after acquiring an additional 244 shares during the period. 90.86% of the stock is currently owned by institutional investors.

About Sensient Technologies

(Get Free Report)

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.

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