Congress Asset Management Co. Takes Position in Sensient Technologies Co. (NYSE:SXT)

Congress Asset Management Co. bought a new position in shares of Sensient Technologies Co. (NYSE:SXT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 1.58% of Sensient Technologies as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SXT. Freemont Capital Pte Ltd bought a new stake in shares of Sensient Technologies during the 4th quarter valued at $449,288,000. Norges Bank purchased a new position in shares of Sensient Technologies during the 4th quarter worth approximately $45,757,000. Marshall Wace LLP bought a new position in Sensient Technologies during the 4th quarter valued at about $24,490,000. Wealthfront Advisers LLC purchased a new stake in Sensient Technologies during the 4th quarter valued at $7,270,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sensient Technologies by 100.9% in the fourth quarter. JPMorgan Chase & Co. now owns 200,726 shares of the specialty chemicals company's stock worth $14,304,000 after acquiring an additional 100,788 shares during the period. 90.86% of the stock is owned by institutional investors.

Sensient Technologies Trading Down 0.3%

SXT stock traded down $0.27 during trading on Tuesday, reaching $96.44. 206,745 shares of the stock were exchanged, compared to its average volume of 225,513. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 32.80 and a beta of 0.56. Sensient Technologies Co. has a 1 year low of $66.15 and a 1 year high of $98.27. The business has a 50 day moving average price of $87.51 and a 200-day moving average price of $78.50. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Sensient Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.64 annualized dividend and a yield of 1.70%. Sensient Technologies's dividend payout ratio (DPR) is 54.30%.

Insider Buying and Selling

In related news, Director Mario Ferruzzi sold 1,668 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was 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 in the company, valued at $758,445.70. This trade represents a 17.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. CJS Securities started coverage on Sensient Technologies in a research note on Tuesday. They issued a "market perform" rating and a $95.00 target price on the stock. Finally, Robert W. Baird increased their price objective on shares of Sensient Technologies from $85.00 to $93.00 and gave the company an "outperform" rating in a research report on Monday, April 28th.

About Sensient Technologies

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.