M&T Bank Corp Cuts Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

M&T Bank Corp lowered its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,549 shares of the specialty chemicals company's stock after selling 12,111 shares during the quarter. M&T Bank Corp's holdings in International Flavors & Fragrances were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Freemont Capital Pte Ltd purchased a new stake in International Flavors & Fragrances during the fourth quarter valued at $2,143,882,000. Norges Bank purchased a new stake in International Flavors & Fragrances in the fourth quarter worth about $452,363,000. Dodge & Cox increased its position in International Flavors & Fragrances by 11.9% in the fourth quarter. Dodge & Cox now owns 31,437,763 shares of the specialty chemicals company's stock worth $2,658,063,000 after buying an additional 3,355,381 shares in the last quarter. Northern Trust Corp increased its position in International Flavors & Fragrances by 19.9% in the fourth quarter. Northern Trust Corp now owns 3,407,262 shares of the specialty chemicals company's stock worth $288,084,000 after buying an additional 565,769 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in International Flavors & Fragrances by 6,831.5% in the first quarter. GAMMA Investing LLC now owns 556,464 shares of the specialty chemicals company's stock worth $431,870,000 after buying an additional 548,436 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Activity

In other International Flavors & Fragrances news, EVP Stephen N. Landsman acquired 12,000 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $77.28 per share, for a total transaction of $927,360.00. Following the completion of the acquisition, the executive vice president directly owned 12,000 shares of the company's stock, valued at $927,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Beril Yildiz sold 2,400 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $77.33, for a total value of $185,592.00. Following the sale, the chief accounting officer owned 3,321 shares in the company, valued at $256,812.93. This trade represents a 41.95% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 22,050 shares of company stock worth $1,688,512 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Stock Down 0.8%

Shares of International Flavors & Fragrances stock traded down $0.63 during trading hours on Friday, reaching $75.99. 1,099,346 shares of the company were exchanged, compared to its average volume of 1,534,220. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77. The stock's fifty day moving average is $76.11 and its 200 day moving average is $78.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. The firm has a market cap of $19.44 billion, a PE ratio of -23.24, a PEG ratio of 3.41 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.12 by $0.08. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. International Flavors & Fragrances's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is presently -48.93%.

Wall Street Analyst Weigh In

IFF has been the topic of a number of research analyst reports. UBS Group boosted their target price on International Flavors & Fragrances from $82.00 to $83.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Stifel Nicolaus decreased their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley decreased their price objective on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Oppenheimer decreased their price objective on International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus target price of $93.43.

International Flavors & Fragrances 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.