Kimelman & Baird LLC Buys Shares of 6,714 International Flavors & Fragrances Inc. $IFF

Kimelman & Baird LLC purchased a new position in International Flavors & Fragrances Inc. (NYSE:IFF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,714 shares of the specialty chemicals company’s stock, valued at approximately $532,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in International Flavors & Fragrances in the 2nd quarter valued at $1,835,955,000. Invesco Ltd. boosted its position in International Flavors & Fragrances by 131.3% during the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock worth $441,068,000 after acquiring an additional 4,069,075 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in International Flavors & Fragrances during the 4th quarter valued at about $211,703,000. Ameriprise Financial Inc. raised its holdings in International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock valued at $183,264,000 after acquiring an additional 2,363,307 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in International Flavors & Fragrances by 27.5% in the 4th quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at International Flavors & Fragrances

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Fribourg bought 260,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last 90 days. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Stock Performance

NYSE:IFF opened at $87.88 on Friday. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $89.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. The company has a 50 day moving average price of $80.54 and a 200 day moving average price of $76.80. The stock has a market capitalization of $22.42 billion, a P/E ratio of 80.62, a PEG ratio of 3.21 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances declared that its board has approved a stock buyback program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s payout ratio is currently 146.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Rothschild & Co Redburn dropped their price target on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Berenberg Bank upped their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. Morgan Stanley raised their target price on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Jefferies Financial Group boosted their price target on shares of International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.40.

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.