HITE Hedge Asset Management LLC Makes New Investment in International Flavors & Fragrances Inc. $IFF

Key Points

• HITE Hedge Asset Management opened a new position in International Flavors & Fragrances, buying 152,665 shares worth about $10.3 million in the fourth quarter.
• Insider activity was also notable, with director Paul J. Fribourg purchasing 260,000 shares for about $19.3 million, increasing his stake by 10.73%.
• IFF recently reported better-than-expected earnings of $1.25 per share on $2.74 billion in revenue, and it also declared a quarterly dividend of $0.40 per share for a 2.0% annualized yield.

HITE Hedge Asset Management LLC bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 152,665 shares of the specialty chemicals company's stock, valued at approximately $10,288,000. HITE Hedge Asset Management LLC owned 0.06% of International Flavors & Fragrances as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of IFF. Lloyd Advisory Services LLC. acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter worth about $27,000. Geneos Wealth Management Inc. increased its holdings in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after acquiring an additional 210 shares during the period. Transamerica Financial Advisors LLC increased its holdings in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after acquiring an additional 610 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of International Flavors & Fragrances by 42.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after acquiring an additional 239 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of International Flavors & Fragrances by 1,190.0% in the 3rd quarter. AlphaQuest LLC now owns 903 shares of the specialty chemicals company's stock worth $56,000 after acquiring an additional 833 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Transactions at International Flavors & Fragrances

In related news, Director Paul J. Fribourg bought 260,000 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director directly owned 2,682,730 shares of the company's stock, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $78.19 on Friday. The firm has a 50-day moving average price of $74.13 and a 200 day moving average price of $72.34. The firm has a market capitalization of $19.96 billion, a PE ratio of 23.91, a P/E/G ratio of 1.80 and a beta of 0.94. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.17. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. International Flavors & Fragrances's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. On average, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.56 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, July 10th. Investors of record on Thursday, June 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances's dividend payout ratio is currently 48.93%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IFF. Rothschild & Co Redburn dropped their price objective on shares of International Flavors & Fragrances from $74.00 to $71.00 in a report on Friday, May 8th. Berenberg Bank increased their price objective on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a report on Thursday, May 7th. BNP Paribas Exane increased their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Finally, UBS Group increased their target price on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.05.

International Flavors & Fragrances 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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