Rhumbline Advisers Purchases 38,699 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Rhumbline Advisers grew its stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,370 shares of the specialty chemicals company's stock after purchasing an additional 38,699 shares during the period. Rhumbline Advisers owned approximately 0.20% of International Flavors & Fragrances worth $40,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of IFF. SBI Securities Co. Ltd. bought a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $32,000. Fairway Wealth LLC bought a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $34,000. Rialto Wealth Management LLC bought a new stake in shares of International Flavors & Fragrances in the 4th quarter valued at approximately $42,000. Principal Securities Inc. grew its stake in shares of International Flavors & Fragrances by 36.6% in the 4th quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 171 shares during the period. Finally, United Community Bank grew its stake in shares of International Flavors & Fragrances by 19.4% in the 4th quarter. United Community Bank now owns 925 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 150 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on IFF. Wells Fargo & Company reduced their target price on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus reduced their target price on International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Mizuho reduced their target price on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Robert W. Baird reduced their target price on International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Oppenheimer reduced their target price on International Flavors & Fragrances from $104.00 to $89.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.43.

Insider Activity

In other news, Director Kevin O'byrne acquired 4,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen N. Landsman acquired 12,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $77.28 per share, with a total value of $927,360.00. Following the transaction, the executive vice president now owns 12,000 shares in the company, valued at $927,360. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 22,050 shares of company stock valued at $1,688,512 in the last 90 days. 0.17% of the stock is owned by company insiders.

International Flavors & Fragrances Trading Down 1.4%

NYSE:IFF traded down $1.07 during trading hours on Thursday, hitting $76.40. 1,272,933 shares of the stock were exchanged, compared to its average volume of 1,520,977. The company's 50 day moving average is $75.22 and its two-hundred day moving average is $81.26. 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 company has a market capitalization of $19.54 billion, a P/E ratio of 81.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. International Flavors & Fragrances Inc. has a twelve month low of $65.85 and a twelve month high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share 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 the consensus estimate of $2.83 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The firm's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. On average, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, June 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is currently -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.