Millennium Management LLC Acquires 20,290 Shares of Sensient Technologies Co. (NYSE:SXT)

Millennium Management LLC lifted its stake in shares of Sensient Technologies Co. (NYSE:SXT - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,235 shares of the specialty chemicals company's stock after buying an additional 20,290 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Sensient Technologies worth $3,865,000 at the end of the most recent reporting period.

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

Insider Activity

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 shares were sold at an average price of $95.45, for a total value of $159,210.60. Following the completion of the sale, the director now owns 7,946 shares of the company's stock, valued at $758,445.70. This trade represents a 17.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SXT. Robert W. Baird increased their price target 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. Wall Street Zen lowered Sensient Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd.

Sensient Technologies Price Performance

SXT stock traded down $0.50 during trading on Tuesday, hitting $93.99. The company had a trading volume of 302,124 shares, compared to its average volume of 223,730. Sensient Technologies Co. has a fifty-two week low of $66.15 and a fifty-two week high of $98.27. The company has a current ratio of 3.55, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 31.97 and a beta of 0.58. The business has a 50 day moving average of $85.37 and a 200 day moving average of $77.84.

Sensient Technologies (NYSE:SXT - Get Free Report) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business 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 company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. As a group, research analysts predict that Sensient Technologies Co. will post 3.1 earnings per share for the current year.

Sensient Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were paid 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 1.74%. Sensient Technologies's dividend payout ratio is 54.30%.

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.