Congress Asset Management Co. Makes New $49.98 Million Investment in Sensient Technologies Co. (NYSE:SXT)

Congress Asset Management Co. bought a new position in Sensient Technologies Co. (NYSE:SXT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 671,556 shares of the specialty chemicals company's stock, valued at approximately $49,984,000. Congress Asset Management Co. owned approximately 1.58% of Sensient Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SXT. Kohmann Bosshard Financial Services LLC purchased a new stake in Sensient Technologies in the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its stake in Sensient Technologies by 18,766.7% in the 4th quarter. Jones Financial Companies Lllp now owns 566 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 563 shares in the last quarter. Quarry LP purchased a new stake in Sensient Technologies in the 4th quarter worth approximately $50,000. Covestor Ltd lifted its stake in Sensient Technologies by 49.4% in the 4th quarter. Covestor Ltd now owns 920 shares of the specialty chemicals company's stock worth $66,000 after purchasing an additional 304 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Sensient Technologies by 152.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,123 shares of the specialty chemicals company's stock worth $80,000 after purchasing an additional 678 shares in the last quarter. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

Sensient Technologies Stock Performance

Sensient Technologies stock opened at $96.12 on Friday. The firm's fifty day moving average price is $86.66 and its 200-day moving average price is $78.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 3.55. The stock has a market cap of $4.08 billion, a P/E ratio of 32.69 and a beta of 0.56. Sensient Technologies Co. has a fifty-two week low of $66.15 and a fifty-two week high of $98.27.

Sensient Technologies (NYSE:SXT - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $392.33 million for the quarter, compared to analysts' expectations of $387.70 million. Sensient Technologies had a net margin of 8.01% and a return on equity of 11.93%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.73 EPS. On average, equities research analysts expect that Sensient Technologies Co. will post 3.1 earnings per share for the current fiscal year.

Sensient Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, May 12th. Sensient Technologies's dividend payout ratio (DPR) is currently 54.30%.

Insider Activity

In related news, Director Mario Ferruzzi sold 1,668 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $95.45, for a total transaction of $159,210.60. Following the transaction, the director now owns 7,946 shares of the company's stock, valued at approximately $758,445.70. This trade represents a 17.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SXT shares. Robert W. Baird increased their target price on shares of Sensient Technologies from $85.00 to $93.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut shares of Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd.

Sensient Technologies Profile

Sensient Technologies Corporation, together with its subsidiaries, develops, manufactures, and markets colors, flavors, and other specialty ingredients in North America, Europe, Asia, Australia, South America, and Africa. The company offers flavor-delivery systems, and compounded and blended products; ingredient products, such as essential oils, natural and synthetic flavors, and natural extracts; and chili powder, paprika, and chili pepper, as well as dehydrated vegetables comprising parsley, celery, and spinach to the food, beverage, and personal care industries.

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