Ancora Advisors LLC Grows Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Ancora Advisors increased its IFF position by 245.5% in the second quarter, bringing its holdings to 176,704 shares valued at approximately $14 million. Institutional investors collectively own 96.02% of the company.
• IFF reported quarterly earnings of $0.82 per share, below the $1.07 analyst consensus, while revenue of $1.95 billion also missed estimates despite increasing 1.8% year over year.
• The company approved a $2.5 billion share-repurchase program covering up to 12.1% of outstanding shares and maintained a quarterly dividend of $0.40 per share, equivalent to a 1.9% yield.

Ancora Advisors LLC raised its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 245.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,704 shares of the specialty chemicals company's stock after purchasing an additional 125,563 shares during the quarter. Ancora Advisors LLC owned 0.07% of International Flavors & Fragrances worth $13,998,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IFF. Benjamin Edwards Inc. boosted its holdings in International Flavors & Fragrances by 18.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 6,480 shares of the specialty chemicals company's stock valued at $513,000 after acquiring an additional 996 shares during the period. Alyeska Investment Group L.P. increased its stake in International Flavors & Fragrances by 7.2% in the second quarter. Alyeska Investment Group L.P. now owns 222,987 shares of the specialty chemicals company's stock worth $17,665,000 after purchasing an additional 15,028 shares during the period. Greenleaf Trust increased its stake in International Flavors & Fragrances by 6.4% in the second quarter. Greenleaf Trust now owns 14,084 shares of the specialty chemicals company's stock worth $1,116,000 after purchasing an additional 846 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of International Flavors & Fragrances by 7.6% during the second quarter. New Mexico Educational Retirement Board now owns 12,777 shares of the specialty chemicals company's stock worth $1,012,000 after purchasing an additional 900 shares during the last quarter. Finally, Mufg Securities Americas Inc. boosted its stake in shares of International Flavors & Fragrances by 8.5% during the second quarter. Mufg Securities Americas Inc. now owns 7,690 shares of the specialty chemicals company's stock valued at $609,000 after purchasing an additional 604 shares during the period. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

Shares of International Flavors & Fragrances stock opened at $86.37 on Tuesday. The company has a market capitalization of $22.04 billion, a PE ratio of 79.24, a P/E/G ratio of 3.25 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The company has a 50-day simple moving average of $80.75 and a two-hundred day simple moving average of $76.88. International Flavors & Fragrances Inc. has a one year low of $59.14 and a one year high of $89.32.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Research analysts expect that International Flavors & Fragrances Inc. will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.9%. International Flavors & Fragrances's dividend payout ratio is presently 146.79%.

International Flavors & Fragrances announced that its board has approved a share repurchase plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

IFF has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Rothschild & Co Redburn decreased their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Morgan Stanley boosted their price objective on shares of International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Benchmark raised their target price on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Oppenheimer lifted their price target on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.40.

Insider Buying and Selling at International Flavors & Fragrances

In other news, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the chief accounting officer owned 3,446 shares in the company, valued at approximately $292,910. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 over the last three months. Corporate insiders own 1.07% of the company's stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc NYSE: IFF is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF's research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

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