Fenimore Asset Management Inc. raised its position in International Flavors & Fragrances Inc (NYSE:IFF) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,815 shares of the specialty chemicals company’s stock after acquiring an additional 75 shares during the quarter. Fenimore Asset Management Inc.’s holdings in International Flavors & Fragrances were worth $6,792,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lenox Wealth Management Inc. purchased a new position in shares of International Flavors & Fragrances in the 1st quarter valued at about $26,000. Icon Wealth Partners LLC purchased a new stake in International Flavors & Fragrances during the first quarter worth approximately $38,000. Field & Main Bank purchased a new stake in International Flavors & Fragrances during the first quarter worth approximately $39,000. Penserra Capital Management LLC lifted its stake in International Flavors & Fragrances by 28.6% in the first quarter. Penserra Capital Management LLC now owns 360 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 80 shares during the last quarter. Finally, CENTRAL TRUST Co purchased a new stake in International Flavors & Fragrances in the second quarter valued at approximately $78,000. 88.90% of the stock is owned by institutional investors.
Shares of NYSE:IFF opened at $110.61 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.60 and a quick ratio of 1.59. International Flavors & Fragrances Inc has a 12 month low of $109.63 and a 12 month high of $152.95. The firm has a market capitalization of $12.68 billion, a PE ratio of 17.61 and a beta of 0.75. The business has a 50-day moving average of $139.12 and a two-hundred day moving average of $136.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, September 20th. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.73. International Flavors & Fragrances’s dividend payout ratio (DPR) is 46.50%.
A number of equities research analysts have weighed in on IFF shares. KeyCorp reduced their price objective on International Flavors & Fragrances from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. UBS Group boosted their target price on International Flavors & Fragrances from $168.00 to $172.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $127.00 to $125.00 in a report on Wednesday, August 7th. Exane BNP Paribas lowered International Flavors & Fragrances to an “underperform” rating in a report on Friday, June 21st. Finally, Berenberg Bank lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and lowered their target price for the company from $155.00 to $133.00 in a report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. International Flavors & Fragrances has a consensus rating of “Hold” and an average target price of $143.00.
In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 972 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $148.79, for a total transaction of $144,623.88. Following the transaction, the insider now owns 37,250 shares of the company’s stock, valued at approximately $5,542,427.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 7,036 shares of company stock worth $1,021,388. 0.39% of the stock is currently owned by company insiders.
International Flavors & Fragrances Company Profile
International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.
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