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NEW YORK ( TheStreet) -- Sensient Technologies Corporation (NYSE: SXT) hit a new 52-week high Wednesday as it is currently trading at $40.40, above its previous 52-week high of $40.36 with 149,735 shares traded as of 12:24 p.m. ET. Average volume has been 241,700 shares over the past 30 days. Sensient has a market cap of $1.98 billion and is part of the basic materials sector and chemicals industry. Shares are up 4.5% year to date as of the close of trading on Tuesday. Sensient Technologies Corporation and its subsidiaries engage in the manufacture and sale of colors, flavors, and fragrances worldwide. The company has a P/E ratio of 16.8, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 17.7.