Magnetar Financial LLC Acquires Shares of 106,411 International Flavors & Fragrances Inc. $IFF

Key Points

• Magnetar Financial LLC has made a significant investment of $8.26 million in International Flavors & Fragrances Inc. by acquiring 106,411 shares, as disclosed in a recent SEC filing.
• Insider transactions included CEO J Erik Fyrwald purchasing 15,300 shares and Director Paul J. Fribourg buying 15,450 shares, indicating confidence in the company's growth.
• The company's latest earnings report showed an EPS of $1.15, exceeding analysts' expectations, despite a 4.3% decline in quarterly revenue compared to the previous year.

Magnetar Financial LLC bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 106,411 shares of the specialty chemicals company's stock, valued at approximately $8,259,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of International Flavors & Fragrances by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock worth $122,447,000 after buying an additional 32,005 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of International Flavors & Fragrances by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock valued at $6,525,000 after purchasing an additional 8,490 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of International Flavors & Fragrances in the first quarter valued at approximately $1,271,000. Dodge & Cox raised its position in shares of International Flavors & Fragrances by 7.4% during the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock worth $2,621,247,000 after acquiring an additional 2,336,844 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of International Flavors & Fragrances by 23.6% in the 4th quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock valued at $30,529,000 after buying an additional 68,970 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Paul J. Fribourg bought 15,450 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the transaction, the director owned 15,450 shares in the company, valued at $1,001,160. 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, CEO J Erik Fyrwald acquired 15,300 shares of the stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $64.95 per share, with a total value of $993,735.00. Following the transaction, the chief executive officer directly owned 77,370 shares of the company's stock, valued at $5,025,181.50. This represents a 24.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

International Flavors & Fragrances Trading Up 0.5%

IFF traded up $0.36 on Monday, reaching $67.46. 1,521,822 shares of the company's stock were exchanged, compared to its average volume of 2,457,816. The company's 50 day moving average is $71.53 and its 200-day moving average is $75.20. The company has a market cap of $17.29 billion, a price-to-earnings ratio of -43.52, a PEG ratio of 2.92 and a beta of 1.07. International Flavors & Fragrances Inc. has a twelve month low of $62.33 and a twelve month 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.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate 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 company's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. International Flavors & Fragrances has set its FY 2025 guidance at EPS. Equities analysts predict that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is -103.23%.

Wall Street Analyst Weigh In

A number of research analysts have commented on IFF shares. UBS Group dropped their price objective on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley lowered their target price 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. Robert W. Baird lowered their price objective on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Tigress Financial restated a "buy" rating and issued a $105.00 target price on shares of International Flavors & Fragrances in a report on Tuesday, August 26th. Finally, Barclays decreased their price objective on International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.36.

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.