Amalgamated Bank Reduces Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Amalgamated Bank reduced its holdings in International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) by 6.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 63,884 shares of the specialty chemicals company’s stock after selling 4,517 shares during the period. Amalgamated Bank’s holdings in International Flavors & Fragrances were worth $8,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IFF. Covestor Ltd bought a new stake in shares of International Flavors & Fragrances in the 4th quarter worth about $25,000. Atwood & Palmer Inc. lifted its holdings in shares of International Flavors & Fragrances by 1,718.2% in the 1st quarter. Atwood & Palmer Inc. now owns 200 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of International Flavors & Fragrances by 512.5% in the 1st quarter. CVA Family Office LLC now owns 245 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 205 shares during the last quarter. Nauset Wealth Management. LLC bought a new stake in shares of International Flavors & Fragrances in the 1st quarter worth about $37,000. Finally, Allworth Financial LP lifted its holdings in shares of International Flavors & Fragrances by 330.6% in the 1st quarter. Allworth Financial LP now owns 310 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 238 shares during the last quarter. 89.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IFF shares. Morgan Stanley decreased their price objective on shares of International Flavors & Fragrances from $160.00 to $149.00 and set an “overweight” rating for the company in a report on Thursday, August 11th. Bank of America decreased their price objective on shares of International Flavors & Fragrances from $169.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Credit Suisse Group started coverage on shares of International Flavors & Fragrances in a report on Monday, June 27th. They set an “outperform” rating and a $145.00 price objective for the company. Robert W. Baird decreased their price objective on shares of International Flavors & Fragrances from $160.00 to $140.00 in a report on Wednesday, August 10th. Finally, Barclays lifted their price objective on shares of International Flavors & Fragrances from $102.00 to $105.00 and gave the company an “underweight” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

Insiders Place Their Bets

In other International Flavors & Fragrances news, EVP Francisco Fortanet sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president now owns 17,237 shares of the company’s stock, valued at approximately $2,154,625. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

International Flavors & Fragrances Stock Down 2.9 %

Shares of International Flavors & Fragrances stock opened at $102.40 on Friday. The firm’s 50 day moving average price is $117.63 and its 200-day moving average price is $122.13. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.51. International Flavors & Fragrances Inc. has a 52-week low of $101.34 and a 52-week high of $155.00. The company has a market cap of $26.11 billion, a P/E ratio of 40.96, a PEG ratio of 1.99 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFFGet Rating) last issued its quarterly earnings data on Monday, August 8th. The specialty chemicals company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.12. International Flavors & Fragrances had a net margin of 5.03% and a return on equity of 7.05%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 5.76 EPS for the current fiscal year.

International Flavors & Fragrances Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Friday, September 23rd will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.16%. The ex-dividend date is Thursday, September 22nd. This is an increase from International Flavors & Fragrances’s previous quarterly dividend of $0.79. International Flavors & Fragrances’s payout ratio is currently 126.40%.

International Flavors & Fragrances Company Profile

(Get Rating)

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 Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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