Centre Asset Management LLC Acquires Shares of 130,279 International Flavors & Fragrances Inc. (NYSE:IFF)

Centre Asset Management LLC bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 130,279 shares of the specialty chemicals company’s stock, valued at approximately $11,203,000. International Flavors & Fragrances accounts for about 2.7% of Centre Asset Management LLC’s portfolio, making the stock its 13th largest position.

Other large investors also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC raised its holdings in shares of International Flavors & Fragrances by 3,000.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at approximately $41,000. Principal Securities Inc. purchased a new position in International Flavors & Fragrances during the fourth quarter worth approximately $43,000. Optiver Holding B.V. acquired a new position in International Flavors & Fragrances during the fourth quarter worth $50,000. Finally, Sachetta LLC purchased a new stake in International Flavors & Fragrances in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Activity

In related news, insider Angela Strzelecki sold 2,588 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $95.66, for a total value of $247,568.08. Following the sale, the insider now directly owns 8,539 shares of the company’s stock, valued at approximately $816,840.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IFF shares. StockNews.com raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Bank of America increased their target price on shares of International Flavors & Fragrances from $87.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Mizuho boosted their price target on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Morgan Stanley reiterated an “equal weight” rating and issued a $100.00 price objective on shares of International Flavors & Fragrances in a research note on Tuesday, May 21st. Finally, Barclays upped their price target on International Flavors & Fragrances from $82.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Flavors & Fragrances has an average rating of “Hold” and a consensus target price of $95.61.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock traded up $1.34 during midday trading on Tuesday, reaching $96.14. The company’s stock had a trading volume of 1,683,413 shares, compared to its average volume of 1,985,545. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.68. International Flavors & Fragrances Inc. has a fifty-two week low of $62.11 and a fifty-two week high of $99.91. The firm has a market capitalization of $24.55 billion, a PE ratio of -9.85, a P/E/G ratio of 1.92 and a beta of 1.26. The stock’s 50 day simple moving average is $91.92 and its 200 day simple moving average is $84.42.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.01% and a positive return on equity of 5.78%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.86 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. International Flavors & Fragrances’s payout ratio is -16.38%.

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 the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.