PNP Sensor Hookup

OK. It is a 25 volt voltage divider so you should see a range of 0 to about 490 on the analog pin.

The voltage divider you have purchased does indeed consist of 2 resistors but has 5 (!) connections and no diagram, anyway I found this which might be the same :

source

You connect the output of the PNP photo cell to VCC and the "S" (I guess "Sig" on your device) connection to the arduino analog pin. The grounds are common.