Amalgamated Bank Boosts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Amalgamated Bank lifted its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,078 shares of the specialty chemicals company’s stock after purchasing an additional 762 shares during the period. Amalgamated Bank’s holdings in International Flavors & Fragrances were worth $3,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IFF. SBI Securities Co. Ltd. purchased a new position in shares of International Flavors & Fragrances in the fourth quarter worth about $32,000. Fairway Wealth LLC acquired a new stake in International Flavors & Fragrances during the fourth quarter worth about $34,000. Rialto Wealth Management LLC acquired a new stake in International Flavors & Fragrances during the fourth quarter worth about $42,000. United Community Bank increased its position in International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company’s stock worth $78,000 after purchasing an additional 150 shares during the last quarter. Finally, Quarry LP acquired a new stake in International Flavors & Fragrances during the fourth quarter worth about $78,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IFF has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Tigress Financial initiated coverage on shares of International Flavors & Fragrances in a research report on Wednesday, June 4th. They set a “buy” rating and a $105.00 price objective for the company. Citigroup raised their price objective on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Mizuho cut their price objective on shares of International Flavors & Fragrances from $95.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Oppenheimer dropped their price target on shares of International Flavors & Fragrances from $104.00 to $89.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.43.

International Flavors & Fragrances Trading Down 0.4%

NYSE IFF opened at $76.33 on Friday. The firm has a 50 day simple moving average of $76.23 and a 200-day simple moving average of $79.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of -23.34, a PEG ratio of 3.41 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a negative net margin of 7.31% and a positive return on equity of 7.99%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, June 20th. International Flavors & Fragrances’s payout ratio is -48.93%.

Insiders Place Their Bets

In other news, Director Kevin O’byrne purchased 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the completion of the purchase, the director directly owned 7,696 shares of the company’s stock, valued at $585,280.80. The trade was a 140.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mehmood Khan purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $75.33 per share, with a total value of $301,320.00. Following the purchase, the director directly owned 4,604 shares of the company’s stock, valued at $346,819.32. The trade was a 662.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 22,050 shares of company stock valued at $1,688,512. 0.20% of the stock is owned by company insiders.

International Flavors & Fragrances Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.