Cornerstone Advisors Inc. Purchases 245 Shares of Internationa Flavors & Fragrances, Inc. (IFF)

Cornerstone Advisors Inc. raised its position in Internationa Flavors & Fragrances, Inc. (NYSE:IFF) by 30.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056 shares of the specialty chemicals company’s stock after buying an additional 245 shares during the period. Cornerstone Advisors Inc.’s holdings in Internationa Flavors & Fragrances were worth $143,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of IFF. BlackRock Inc. raised its position in shares of Internationa Flavors & Fragrances by 2,877.1% in the first quarter. BlackRock Inc. now owns 4,920,948 shares of the specialty chemicals company’s stock valued at $652,173,000 after buying an additional 4,755,656 shares during the period. Winder Investment Pte Ltd raised its position in Internationa Flavors & Fragrances by 6.9% in the second quarter. Winder Investment Pte Ltd now owns 9,250,793 shares of the specialty chemicals company’s stock valued at $1,248,857,000 after buying an additional 595,140 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Internationa Flavors & Fragrances by 131.6% in the first quarter. UBS Asset Management Americas Inc. now owns 887,276 shares of the specialty chemicals company’s stock valued at $117,591,000 after buying an additional 504,228 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Internationa Flavors & Fragrances by 4.4% in the first quarter. Vanguard Group Inc. now owns 8,099,453 shares of the specialty chemicals company’s stock valued at $1,073,421,000 after buying an additional 340,539 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Internationa Flavors & Fragrances by 48.3% in the first quarter. Victory Capital Management Inc. now owns 644,954 shares of the specialty chemicals company’s stock valued at $85,476,000 after buying an additional 210,177 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Internationa Flavors & Fragrances, Inc. (NYSE IFF) traded down 0.13% during midday trading on Tuesday, hitting $134.64. The company’s stock had a trading volume of 667,605 shares. Internationa Flavors & Fragrances, Inc. has a 12 month low of $113.16 and a 12 month high of $143.64. The firm has a market cap of $10.63 billion, a P/E ratio of 26.78 and a beta of 1.11. The company’s 50 day moving average price is $134.28 and its 200 day moving average price is $130.75.

Internationa Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Monday, May 8th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.01. Internationa Flavors & Fragrances had a net margin of 12.72% and a return on equity of 26.75%. The business had revenue of $828.30 million for the quarter, compared to analyst estimates of $833.73 million. During the same quarter last year, the business earned $1.45 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Internationa Flavors & Fragrances, Inc. will post $5.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, September 25th will be paid a $0.69 dividend. This is an increase from Internationa Flavors & Fragrances’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, September 22nd. Internationa Flavors & Fragrances’s dividend payout ratio (DPR) is currently 50.89%.

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A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Internationa Flavors & Fragrances from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Vertical Research downgraded Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Vertical Group cut Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Deutsche Bank AG raised their price objective on Internationa Flavors & Fragrances from $125.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. Finally, Barclays PLC reissued a “sell” rating on shares of Internationa Flavors & Fragrances in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $139.22.

In other news, major shareholder Winder Investment Pte Ltd bought 100,000 shares of Internationa Flavors & Fragrances stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $134.84 per share, with a total value of $13,484,000.00. Following the completion of the purchase, the insider now directly owns 10,178,401 shares of the company’s stock, valued at $1,372,455,590.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francisco Fortanet sold 300 shares of Internationa Flavors & Fragrances stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $134.36, for a total transaction of $40,308.00. Following the transaction, the executive vice president now directly owns 19,994 shares in the company, valued at $2,686,393.84. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,136,598 shares of company stock worth $152,100,656. Insiders own 0.48% of the company’s stock.

About Internationa Flavors & Fragrances

International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.

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

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