Polymer Capital Management US LLC Invests $2.10 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Polymer Capital Management US LLC acquired a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 24,800 shares of the specialty chemicals company’s stock, valued at approximately $2,097,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new stake in shares of International Flavors & Fragrances in the fourth quarter worth $6,453,000. Arete Wealth Advisors LLC lifted its holdings in International Flavors & Fragrances by 16.3% during the 4th quarter. Arete Wealth Advisors LLC now owns 3,561 shares of the specialty chemicals company’s stock worth $301,000 after buying an additional 500 shares during the period. Westpac Banking Corp grew its position in shares of International Flavors & Fragrances by 1,083.8% in the 4th quarter. Westpac Banking Corp now owns 46,819 shares of the specialty chemicals company’s stock valued at $3,959,000 after buying an additional 42,864 shares during the last quarter. Huntington National Bank increased its stake in shares of International Flavors & Fragrances by 5.3% in the fourth quarter. Huntington National Bank now owns 4,314 shares of the specialty chemicals company’s stock valued at $365,000 after buying an additional 219 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of International Flavors & Fragrances by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 6,166,778 shares of the specialty chemicals company’s stock worth $520,032,000 after acquiring an additional 157,948 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IFF. JPMorgan Chase & Co. decreased their target price on shares of International Flavors & Fragrances from $107.00 to $104.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Argus upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Barclays decreased their price target on International Flavors & Fragrances from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Bank of America cut their target price on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Citigroup lowered their target price on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.31.

International Flavors & Fragrances Price Performance

Shares of IFF opened at $73.01 on Monday. The business’s fifty day moving average is $81.66 and its 200 day moving average is $88.84. International Flavors & Fragrances Inc. has a 12-month low of $72.82 and a 12-month high of $106.77. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The stock has a market cap of $18.67 billion, a P/E ratio of 77.67, a P/E/G ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.67 billion. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 170.21%.

Insider Activity

In related news, Director Kevin O’byrne purchased 6,500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $522,860. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.