Douglas Lane & Associates LLC Cuts Position in International Flavors & Fragrances Inc. $IFF

Key Points

• Douglas Lane & Associates LLC reduced its stake in International Flavors & Fragrances Inc. by 6.5%, owning 747,793 shares valued at $55 million as of the end of the most recent quarter.
• The company reported an EPS of $1.15 for the quarter, exceeding analyst expectations, despite a 4.3% decline in revenue year-over-year.
• A quarterly dividend of $0.40 will be paid on October 10th, representing a 2.4% yield, while institutional investors currently own 96.02% of the stock.

Douglas Lane & Associates LLC decreased its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 747,793 shares of the specialty chemicals company's stock after selling 51,892 shares during the period. Douglas Lane & Associates LLC owned 0.29% of International Flavors & Fragrances worth $55,000,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IFF. Kera Capital Partners Inc. acquired a new stake in International Flavors & Fragrances in the 2nd quarter valued at $245,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of International Flavors & Fragrances during the first quarter worth $1,182,000. Swedbank AB boosted its stake in International Flavors & Fragrances by 17.6% during the first quarter. Swedbank AB now owns 209,503 shares of the specialty chemicals company's stock worth $16,260,000 after acquiring an additional 31,428 shares in the last quarter. First Hawaiian Bank lifted its position in shares of International Flavors & Fragrances by 1.0% during the first quarter. First Hawaiian Bank now owns 27,600 shares of the specialty chemicals company's stock valued at $2,142,000 after purchasing an additional 270 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of International Flavors & Fragrances in the first quarter worth about $1,360,000. Institutional investors own 96.02% of the company's stock.

Insider Buying and Selling

In related news, CEO J Erik Fyrwald purchased 15,300 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $64.95 per share, with a total value of $993,735.00. Following the acquisition, the chief executive officer directly owned 77,370 shares of the company's stock, valued at approximately $5,025,181.50. This represents a 24.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Fribourg purchased 15,450 shares of the company's stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $64.80 per share, with a total value of $1,001,160.00. Following the transaction, the director directly owned 15,450 shares in the company, valued at $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

IFF has been the subject of several research reports. Barclays decreased their price objective on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Wells Fargo & Company decreased their target price on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. BNP Paribas Exane cut their target price on shares of International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Wolfe Research upgraded shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a report on Monday, September 8th. Finally, Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.33.

International Flavors & Fragrances Stock Up 0.0%

NYSE IFF traded up $0.01 on Friday, reaching $63.76. The company had a trading volume of 704,038 shares, compared to its average volume of 1,829,535. The company's fifty day moving average is $68.75 and its 200-day moving average is $73.68. International Flavors & Fragrances Inc. has a 1-year low of $62.33 and a 1-year high of $106.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The firm has a market capitalization of $16.34 billion, a price-to-earnings ratio of -41.09, a price-to-earnings-growth ratio of 2.74 and a beta of 1.07.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.04. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. International Flavors & Fragrances had a negative net margin of 3.48% and a positive return on equity of 7.95%. The business's revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. On average, research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's payout ratio is presently -103.23%.

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.