Van ECK Associates Corp Sells 1,225,088 Shares of International Flavors & Fragrances Inc. $IFF

Van ECK Associates Corp cut its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 96.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,719 shares of the specialty chemicals company’s stock after selling 1,225,088 shares during the quarter. Van ECK Associates Corp’s holdings in International Flavors & Fragrances were worth $3,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new position in International Flavors & Fragrances in the 4th quarter valued at approximately $27,000. Root Financial Partners LLC increased its position in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 610 shares during the period. Finally, EFG International AG bought a new position in International Flavors & Fragrances in the fourth quarter worth $73,000. 96.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on IFF. Jefferies Financial Group boosted their price target on shares of International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Wall Street Zen lowered shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research cut shares of International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. 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 research note on Thursday, August 6th. Finally, Morgan Stanley lifted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.40.

International Flavors & Fragrances Trading Down 0.5%

Shares of IFF stock opened at $86.51 on Friday. The company has a market capitalization of $22.07 billion, a P/E ratio of 79.37, a P/E/G ratio of 3.39 and a beta of 0.94. International Flavors & Fragrances Inc. has a 12-month low of $59.14 and a 12-month 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. The firm has a 50-day moving average price of $81.43 and a 200 day moving average price of $77.00.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data 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). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.International Flavors & Fragrances’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. Research analysts forecast that International Flavors & Fragrances Inc. will post 3.08 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given 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 yield of 1.8%. International Flavors & Fragrances’s dividend payout ratio is 146.79%.

International Flavors & Fragrances announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 12.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at International Flavors & Fragrances

In other news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction on 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 SEC, which is available at this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the sale, the executive vice president owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,543 shares of company stock valued at $1,315,659 in the last three months. Corporate insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Company 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.