Adams Natural Resources Fund Inc. Sells 15,706 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Adams Natural Resources Fund Inc. reduced its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,900 shares of the specialty chemicals company's stock after selling 15,706 shares during the period. Adams Natural Resources Fund Inc.'s holdings in International Flavors & Fragrances were worth $3,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in International Flavors & Fragrances in the 4th quarter worth approximately $32,000. Fairway Wealth LLC bought a new position in shares of International Flavors & Fragrances during the fourth quarter valued at approximately $34,000. Rialto Wealth Management LLC purchased a new stake in International Flavors & Fragrances in the fourth quarter worth $42,000. Principal Securities Inc. boosted its holdings in International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 171 shares in the last quarter. Finally, United Community Bank increased its position in International Flavors & Fragrances by 19.4% during the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 150 shares during the period. Institutional investors own 96.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group raised their target price 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. Mizuho lowered 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 report on Tuesday, April 15th. Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. Morgan Stanley lowered their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reduced their price target on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.43.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded down $0.42 during midday trading on Wednesday, reaching $74.30. 1,671,298 shares of the company's stock traded hands, compared to its average volume of 1,516,865. International Flavors & Fragrances Inc. has a one year low of $65.85 and a one year high of $106.77. The stock has a 50 day moving average of $76.09 and a 200 day moving average of $79.88. The company has a market cap of $19.01 billion, a price-to-earnings ratio of -22.72, a P/E/G ratio of 3.28 and a beta of 1.05. 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 (NYSE:IFF - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a negative net margin of 7.31% and a positive return on equity of 7.99%. The business's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. International Flavors & Fragrances's dividend payout ratio is currently -48.93%.

Insider Activity at International Flavors & Fragrances

In related news, Director Hernandez Margarita Palau acquired 850 shares of the company's stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $77.42 per share, with a total value of $65,807.00. Following the acquisition, the director now directly owns 2,393 shares of the company's stock, valued at approximately $185,266.06. This trade represents a 55.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CAO Beril Yildiz sold 2,400 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $77.33, for a total value of $185,592.00. Following the transaction, the chief accounting officer now directly owns 3,321 shares of the company's stock, valued at approximately $256,812.93. The trade was a 41.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 22,050 shares of company stock worth $1,688,512. Corporate insiders own 0.17% of the company's stock.

About International Flavors & Fragrances

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.