River Road Asset Management LLC Makes New $65.33 Million Investment in International Flavors & Fragrances Inc. $IFF

Key Points

• River Road Asset Management disclosed a new stake in International Flavors & Fragrances, buying 969,490 shares valued at about $65.33 million in the fourth quarter.
• Insider buying was notable too: Director Paul J. Fribourg purchased 260,000 shares for roughly $19.3 million, increasing his ownership by 10.73%.
• IFF’s recent results and outlook were solid, with quarterly EPS of $1.25 beating estimates and revenue of $2.74 billion topping forecasts; analysts currently rate the stock a Moderate Buy with an average target price of $91.05.

River Road Asset Management LLC bought a new stake in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 969,490 shares of the specialty chemicals company's stock, valued at approximately $65,334,000. River Road Asset Management LLC owned approximately 0.38% of International Flavors & Fragrances as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. increased its position in International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after purchasing an additional 210 shares during the period. Transamerica Financial Advisors LLC raised its stake in shares of International Flavors & Fragrances by 884.1% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 610 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of International Flavors & Fragrances by 42.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after buying an additional 239 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in shares of International Flavors & Fragrances by 69.6% in the 4th quarter. Cromwell Holdings LLC now owns 894 shares of the specialty chemicals company's stock valued at $61,000 after buying an additional 367 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Flavors & Fragrances

In related news, Director Paul J. Fribourg bought 260,000 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $74.28 per share, for a total transaction of $19,312,800.00. Following the acquisition, the director owned 2,682,730 shares in the company, valued at $199,273,184.40. This represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IFF shares. Jefferies Financial Group upped their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Oppenheimer upped their price target on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Citigroup increased their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Benchmark started coverage on shares of International Flavors & Fragrances in a research report on Tuesday, June 9th. They set a "buy" rating and a $100.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.05.

International Flavors & Fragrances Trading Up 1.1%

NYSE:IFF opened at $76.90 on Friday. International Flavors & Fragrances Inc. has a 52-week low of $59.14 and a 52-week high of $84.45. The company has a quick ratio of 0.87, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $74.57 and a 200-day simple moving average of $72.58. The company has a market capitalization of $19.63 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. On average, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.56 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

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 paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. International Flavors & Fragrances's dividend payout ratio is presently 48.93%.

About International Flavors & Fragrances

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.