Granite Investment Partners LLC purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,500 shares of the specialty chemicals company’s stock, valued at approximately $209,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Front Row Advisors LLC acquired a new position in shares of International Flavors & Fragrances in the 1st quarter worth approximately $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of International Flavors & Fragrances by 411.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 184 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 148 shares during the period. Bedel Financial Consulting Inc. bought a new stake in shares of International Flavors & Fragrances during the 1st quarter valued at about $26,000. Rosenberg Matthew Hamilton raised its stake in International Flavors & Fragrances by 197.1% during the first quarter. Rosenberg Matthew Hamilton now owns 208 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 138 shares during the period. Finally, CWM LLC lifted its holdings in International Flavors & Fragrances by 147.6% in the first quarter. CWM LLC now owns 208 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 124 shares during the last quarter. 91.27% of the stock is owned by institutional investors and hedge funds.
In related news, insider Simon Herriott sold 1,332 shares of International Flavors & Fragrances stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $138.47, for a total value of $184,442.04. Following the completion of the sale, the insider now owns 2,847 shares of the company’s stock, valued at approximately $394,224.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ilene S. Gordon acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 14th. The stock was acquired at an average price of $140.39 per share, with a total value of $140,390.00. Following the completion of the acquisition, the director now directly owns 1,255 shares of the company’s stock, valued at approximately $176,189.45. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.
A number of brokerages recently commented on IFF. JPMorgan Chase & Co. upped their price objective on International Flavors & Fragrances from $141.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, March 26th. Berenberg Bank raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and lifted their price target for the company from $139.00 to $160.00 in a report on Thursday, March 25th. Deutsche Bank Aktiengesellschaft increased their price objective on International Flavors & Fragrances from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 5th. Wells Fargo & Company lifted their target price on International Flavors & Fragrances from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, May 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $160.00 price target on shares of International Flavors & Fragrances in a research note on Monday, April 19th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $145.57.
Shares of IFF stock traded down $1.73 on Friday, reaching $144.08. 5,753 shares of the company’s stock traded hands, compared to its average volume of 3,771,067. The company has a market capitalization of $35.86 billion, a P/E ratio of 78.82, a P/E/G ratio of 2.53 and a beta of 0.96. International Flavors & Fragrances Inc. has a 12-month low of $99.54 and a 12-month high of $148.77. The company has a quick ratio of 1.10, a current ratio of 1.89 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $143.03.
International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Monday, May 10th. The specialty chemicals company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. International Flavors & Fragrances had a return on equity of 7.94% and a net margin of 3.17%. The firm’s quarterly revenue was up 83.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post 5.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 6th. Stockholders of record on Friday, June 25th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, June 24th. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 54.04%.
International Flavors & Fragrances Profile
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.
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