Olstein Capital Management L.P. Has $9.29 Million Stock Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Olstein Capital Management L.P. cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,000 shares of the specialty chemicals company’s stock after selling 16,000 shares during the quarter. International Flavors & Fragrances comprises 1.5% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 15th largest holding. Olstein Capital Management L.P.’s holdings in International Flavors & Fragrances were worth $9,287,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IFF. Blue Bell Private Wealth Management LLC raised its stake in International Flavors & Fragrances by 3,000.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Riverview Trust Co acquired a new position in shares of International Flavors & Fragrances during the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in International Flavors & Fragrances during the fourth quarter worth about $41,000. Principal Securities Inc. bought a new position in International Flavors & Fragrances during the fourth quarter valued at about $43,000. Finally, Sachetta LLC acquired a new position in International Flavors & Fragrances in the 4th quarter valued at approximately $50,000. 96.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Flavors & Fragrances news, insider Angela Strzelecki sold 2,588 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $95.66, for a total value of $247,568.08. Following the completion of the sale, the insider now directly owns 8,539 shares in the company, valued at $816,840.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

International Flavors & Fragrances Trading Up 0.3 %

NYSE:IFF traded up $0.28 during mid-day trading on Wednesday, hitting $95.02. The company had a trading volume of 566,865 shares, compared to its average volume of 1,957,022. 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 cap of $24.26 billion, a P/E ratio of -9.73, a P/E/G ratio of 1.88 and a beta of 1.26. The business’s fifty day moving average is $94.40 and its two-hundred day moving average is $85.85.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating 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 business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the company posted $0.87 EPS. International Flavors & Fragrances’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts expect that International Flavors & Fragrances Inc. will post 3.97 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio is currently -16.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IFF. Argus cut International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Morgan Stanley increased their price objective on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research note on Wednesday. Robert W. Baird lifted their target price on shares of International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Mizuho boosted their target price on shares of International Flavors & Fragrances from $91.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Bank of America boosted their price objective on International Flavors & Fragrances from $87.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.78.

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.