HITE Hedge Asset Management LLC Takes Position in International Flavors & Fragrances Inc. $IFF

HITE Hedge Asset Management LLC acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 152,665 shares of the specialty chemicals company’s stock, valued at approximately $10,288,000.

Other large investors also recently made changes to their positions in the company. Lloyd Advisory Services LLC. bought a new position in shares of International Flavors & Fragrances during the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. boosted its position in shares of International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in shares of International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 610 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 239 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of International Flavors & Fragrances by 69.6% during the 4th quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company’s stock valued at $61,000 after purchasing an additional 367 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $78.19 on Friday. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $84.45. The company has a 50-day moving average of $74.13 and a two-hundred day moving average of $72.34. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the company posted $1.20 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, June 18th. International Flavors & Fragrances’s dividend payout ratio is 48.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IFF. Jefferies Financial Group raised their price objective on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. UBS Group raised their target price on shares of International Flavors & Fragrances from $75.00 to $86.00 in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays raised their target price on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, BNP Paribas Exane raised their target price on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average target price of $91.05.

Insider Activity

In related news, Director Paul J. Fribourg purchased 260,000 shares of International Flavors & Fragrances stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, the director directly owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.07% of the stock is owned by company insiders.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.