WASHINGTON TRUST Co Has $6.14 Million Position in International Flavors & Fragrances Inc. (NYSE:IFF)

WASHINGTON TRUST Co lifted its position in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 45.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,052 shares of the specialty chemicals company's stock after acquiring an additional 24,728 shares during the period. WASHINGTON TRUST Co's holdings in International Flavors & Fragrances were worth $6,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in International Flavors & Fragrances by 1.5% in the first quarter. Amalgamated Bank now owns 50,078 shares of the specialty chemicals company's stock worth $3,887,000 after acquiring an additional 762 shares in the last quarter. KBC Group NV raised its stake in shares of International Flavors & Fragrances by 23.6% in the first quarter. KBC Group NV now owns 26,546 shares of the specialty chemicals company's stock worth $2,060,000 after purchasing an additional 5,062 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in International Flavors & Fragrances by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock worth $6,525,000 after buying an additional 8,490 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in International Flavors & Fragrances by 9.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,920 shares of the specialty chemicals company's stock valued at $2,365,000 after acquiring an additional 2,779 shares during the period. Finally, Achmea Investment Management B.V. grew its position in International Flavors & Fragrances by 126.1% in the 1st quarter. Achmea Investment Management B.V. now owns 29,344 shares of the specialty chemicals company's stock worth $2,277,000 after purchasing an additional 16,368 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $76.00 to $84.00 in a research report on Thursday, May 8th. Stifel Nicolaus reduced their price objective 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. Citigroup upped their price objective on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley reduced their price objective on shares of 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. Finally, Robert W. Baird cut their target price on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. One research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.43.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Kevin O'byrne purchased 4,500 shares of the business'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 completion of the acquisition, the director directly owned 7,696 shares of the company's stock, valued at $585,280.80. The trade was a 140.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mehmood Khan acquired 4,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of $75.33 per share, with a total value of $301,320.00. Following the completion of the purchase, the director owned 4,604 shares in the company, valued at approximately $346,819.32. This represents a 662.25% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 22,050 shares of company stock valued at $1,688,512. Corporate insiders own 0.17% of the company's stock.

International Flavors & Fragrances Trading Up 1.6%

Shares of NYSE IFF traded up $1.22 during trading on Wednesday, hitting $76.31. 726,087 shares of the company traded hands, compared to its average volume of 1,732,874. The company has a 50-day moving average price of $76.22 and a 200-day moving average price of $79.39. International Flavors & Fragrances Inc. has a 1 year low of $65.85 and a 1 year high of $106.77. The company has a quick ratio of 1.39, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $19.52 billion, a P/E ratio of -23.34, a P/E/G ratio of 3.27 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.08. The company 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 quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 EPS. On average, equities analysts predict that International Flavors & Fragrances Inc. will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. International Flavors & Fragrances's dividend payout ratio (DPR) is -48.93%.

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.