International Assets Investment Management LLC Invests $380,000 in International Flavors & Fragrances Inc. (NYSE:IFF)

International Assets Investment Management LLC acquired a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,696 shares of the specialty chemicals company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IFF. Parkside Financial Bank & Trust grew its holdings in shares of International Flavors & Fragrances by 241.3% during the third quarter. Parkside Financial Bank & Trust now owns 744 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 526 shares in the last quarter. NBC Securities Inc. purchased a new stake in International Flavors & Fragrances in the third quarter worth approximately $103,000. Federated Hermes Inc. boosted its stake in International Flavors & Fragrances by 9.7% in the third quarter. Federated Hermes Inc. now owns 1,712 shares of the specialty chemicals company’s stock worth $117,000 after buying an additional 152 shares in the last quarter. Concord Wealth Partners purchased a new stake in International Flavors & Fragrances in the third quarter worth approximately $146,000. Finally, Huntington National Bank boosted its stake in International Flavors & Fragrances by 11.2% in the third quarter. Huntington National Bank now owns 2,378 shares of the specialty chemicals company’s stock worth $162,000 after buying an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $84.61 on Friday. The stock has a fifty day moving average of $82.06 and a 200 day moving average of $78.08. International Flavors & Fragrances Inc. has a 52 week low of $62.11 and a 52 week high of $97.49. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of -8.43, a PEG ratio of 1.90 and a beta of 1.23. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.70 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 3.69 earnings per share for the current year.

International Flavors & Fragrances Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio is currently -15.94%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IFF shares. Stifel Nicolaus cut their target price on International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. StockNews.com raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Barclays raised International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price objective on International Flavors & Fragrances from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and increased their price objective for the company from $73.00 to $112.00 in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $86.35.

International Flavors & Fragrances Company 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.