Hanson & Doremus Investment Management Sells 13,101 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Hanson & Doremus Investment Management lessened its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 76.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,964 shares of the specialty chemicals company's stock after selling 13,101 shares during the period. Hanson & Doremus Investment Management's holdings in International Flavors & Fragrances were worth $308,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IFF. SBI Securities Co. Ltd. purchased a new position in International Flavors & Fragrances during the fourth quarter worth $32,000. Fairway Wealth LLC purchased a new position in International Flavors & Fragrances during the fourth quarter worth $34,000. Rialto Wealth Management LLC purchased a new position in International Flavors & Fragrances during the fourth quarter worth $42,000. Principal Securities Inc. boosted its stake in International Flavors & Fragrances by 36.6% during the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 171 shares during the period. Finally, United Community Bank boosted its stake in International Flavors & Fragrances by 19.4% during the fourth quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock worth $78,000 after buying an additional 150 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 $76.69 on Tuesday. International Flavors & Fragrances Inc. has a 52 week low of $65.85 and a 52 week high of $106.77. The company has a 50 day moving average price of $75.88 and a 200 day moving average price of $80.45. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $19.62 billion, a P/E ratio of 81.59, a PEG ratio of 1.45 and a beta of 1.05.

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, topping the consensus estimate of $1.12 by $0.08. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the company earned $1.13 EPS. International Flavors & Fragrances's quarterly revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 2.09%. International Flavors & Fragrances's payout ratio is -48.93%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IFF. Stifel Nicolaus lowered their target price on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. UBS Group boosted their target price on shares of International Flavors & Fragrances from $82.00 to $83.00 and gave the company a "neutral" rating in a research note 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 research note on Tuesday, April 15th. Cfra lowered shares of International Flavors & Fragrances from a "buy" rating to a "sell" rating and set a $77.00 price objective for the company. in a research note on Thursday, February 20th. Finally, Tigress Financial started coverage on shares of International Flavors & Fragrances in a research note on Wednesday, June 4th. They issued a "buy" rating and a $105.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.43.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, CEO J Erik Fyrwald bought 700 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $74.00 per share, for a total transaction of $51,800.00. Following the transaction, the chief executive officer now directly owns 37,770 shares of the company's stock, valued at approximately $2,794,980. This represents a 1.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin O'byrne bought 4,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $76.05 per share, for a total transaction of $342,225.00. Following the transaction, the director now directly owns 7,696 shares in the company, valued at approximately $585,280.80. This represents a 140.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 22,050 shares of company stock valued at $1,688,512 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

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.

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