Blume Capital Management Inc. Grows Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Blume Capital Management dramatically increased its stake in International Flavors & Fragrances during the fourth quarter, boosting holdings by 23,178.5% to 46,557 shares worth about $3.1 million.
• IFF posted better-than-expected quarterly results, reporting earnings per share of $1.25 versus the $1.08 estimate and revenue of $2.74 billion, though sales were still down 3.6% from a year earlier.
• The company declared a quarterly dividend of $0.40 per share and continues to draw analyst support, with a consensus rating of “Moderate Buy” and an average price target of $90.80.

Blume Capital Management Inc. increased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 23,178.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,557 shares of the specialty chemicals company's stock after buying an additional 46,357 shares during the quarter. Blume Capital Management Inc.'s holdings in International Flavors & Fragrances were worth $3,137,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 610 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 239 shares during the last quarter. AlphaQuest LLC grew its stake in International Flavors & Fragrances by 1,190.0% during the 3rd quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company's stock worth $56,000 after buying an additional 833 shares during the last quarter. Finally, Cromwell Holdings LLC grew its stake in International Flavors & Fragrances by 69.6% during the 4th quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company's stock worth $61,000 after buying an additional 367 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Trading Down 0.0%

Shares of IFF stock opened at $73.09 on Monday. The business's 50 day moving average is $72.39 and its two-hundred day moving average is $70.89. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45. The company has a market capitalization of $18.66 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.93. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that International Flavors & Fragrances Inc. will post 4.53 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, June 18th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. International Flavors & Fragrances's payout ratio is 48.93%.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 142,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the completion of the purchase, the director directly owned 2,422,730 shares in the company, valued at $169,906,054.90. This represents a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on IFF. Rothschild & Co Redburn lowered their target price on International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Jefferies Financial Group lifted their target price on International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Citigroup lifted their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lifted their target price on International Flavors & Fragrances from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lifted their target price on International Flavors & Fragrances from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.80.

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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