885,245 Shares in International Flavors & Fragrances Inc. $IFF Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the second quarter, Holdings Channel.com reports. The institutional investor bought 885,245 shares of the specialty chemicals company’s stock, valued at approximately $70,129,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lloyd Advisory Services LLC. purchased a new stake in shares of International Flavors & Fragrances during the 4th quarter valued at $27,000. Root Financial Partners LLC grew its stake in International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock worth $40,000 after buying an additional 274 shares during the last quarter. Geneos Wealth Management Inc. grew its stake 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 buying an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in 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 valued at $50,000 after buying an additional 610 shares in the last quarter. Finally, EFG International AG purchased a new stake in International Flavors & Fragrances in the fourth quarter valued at about $73,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Up 2.8%

International Flavors & Fragrances stock opened at $83.23 on Thursday. The stock has a 50-day moving average price of $79.32 and a 200 day moving average price of $76.14. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 76.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.93. International Flavors & Fragrances Inc. has a 52 week low of $59.14 and a 52 week high of $89.32. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share 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 business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company posted $1.15 EPS. International Flavors & Fragrances’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 3.06 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.9%. International Flavors & Fragrances’s dividend payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 4th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

IFF has been the topic of a number of research analyst reports. Citigroup dropped their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Oppenheimer lifted their target price 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. Benchmark boosted their target price on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays upped their price target on shares of International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Vertical Research cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $92.16.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Deveau sold 8,825 shares of International Flavors & Fragrances stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the transaction, the executive vice president owned 5,199 shares of the company’s stock, valued at $444,774.45. The trade was a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,543 shares of company stock worth $1,315,659. 1.07% of the stock is currently owned by company insiders.

International Flavors & Fragrances Profile

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.