Ethic Inc. Sells 4,763 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Ethic Inc. reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,045 shares of the specialty chemicals company's stock after selling 4,763 shares during the period. Ethic Inc.'s holdings in International Flavors & Fragrances were worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. UMB Bank n.a. grew its position in International Flavors & Fragrances by 8.9% in the 4th quarter. UMB Bank n.a. now owns 1,458 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 119 shares in the last quarter. Truist Financial Corp raised its holdings in International Flavors & Fragrances by 0.7% during the 4th quarter. Truist Financial Corp now owns 19,908 shares of the specialty chemicals company's stock valued at $1,683,000 after acquiring an additional 129 shares during the period. Wahed Invest LLC increased its position in shares of International Flavors & Fragrances by 2.1% during the fourth quarter. Wahed Invest LLC now owns 6,339 shares of the specialty chemicals company's stock valued at $536,000 after buying an additional 130 shares during the period. United Community Bank increased its holdings in shares of International Flavors & Fragrances by 19.4% in 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 period. Finally, Commerce Bank grew its holdings in shares of International Flavors & Fragrances by 3.8% during the fourth quarter. Commerce Bank now owns 4,141 shares of the specialty chemicals company's stock worth $350,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IFF. Mizuho cut their target price 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. Robert W. Baird cut their price objective on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Morgan Stanley decreased their price objective on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their target price on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays upgraded shares of International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.54.

Insiders Place Their Bets

In other International Flavors & Fragrances news, CEO J Erik Fyrwald purchased 700 shares of the company's stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $74.00 per share, for a total transaction of $51,800.00. Following the purchase, the chief executive officer now directly owns 37,770 shares of the company's stock, valued at $2,794,980. This trade represents a 1.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin O'byrne bought 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $80.44 per share, for a total transaction of $522,860.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company's stock, valued at $522,860. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is owned by company insiders.

International Flavors & Fragrances Trading Up 2.0%

IFF stock traded up $1.46 during trading on Thursday, reaching $76.09. The company had a trading volume of 1,483,035 shares, compared to its average volume of 1,789,979. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.84 and a quick ratio of 1.93. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77. The business has a 50 day moving average of $76.02 and a 200 day moving average of $83.13. The company has a market cap of $19.46 billion, a P/E ratio of 80.95, a PEG ratio of 1.45 and a beta of 1.08.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.08. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The company's revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. As a group, sell-side analysts forecast 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, July 11th. Investors of record on Friday, June 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -48.93%.

International Flavors & Fragrances Company 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.