OMERS ADMINISTRATION Corp Invests $1.34 Million in International Flavors & Fragrances Inc. $IFF

OMERS ADMINISTRATION Corp acquired a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) during the 2nd quarter, HoldingsChannel reports. The fund acquired 16,864 shares of the specialty chemicals company’s stock, valued at approximately $1,336,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in International Flavors & Fragrances in the 2nd quarter valued at $1,365,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in International Flavors & Fragrances in the 2nd quarter valued at about $14,469,000. Bank of Nova Scotia acquired a new position in International Flavors & Fragrances in the second quarter valued at approximately $2,096,000. Commerce Bank acquired a new position in shares of International Flavors & Fragrances in the 2nd quarter valued at $524,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in International Flavors & Fragrances in the second quarter valued at about $203,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Down 0.0%

Shares of NYSE:IFF opened at $87.14 on Thursday. International Flavors & Fragrances Inc. has a fifty-two week low of $59.14 and a fifty-two week high of $89.32. The firm’s 50 day moving average price is $80.12 and its 200 day moving average price is $76.64. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 79.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $1.15 EPS. The company’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances announced that its board has authorized a share repurchase program on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 12.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

International Flavors & Fragrances Dividend Announcement

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

Insiders Place Their Bets

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on IFF. Berenberg Bank lifted their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Zacks Research lowered shares of International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. UBS Group lifted their price objective on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Oppenheimer increased their target price on shares of International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Wall Street Zen cut shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Twelve equities 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 stock. Based on data from MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average target price 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.