Nomura Asset Management Co. Ltd. Grows Position in International Flavors & Fragrances Inc. $IFF

Nomura Asset Management Co. Ltd. raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,594 shares of the specialty chemicals company’s stock after acquiring an additional 6,820 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in International Flavors & Fragrances were worth $6,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. DNB Asset Management AS raised its holdings in shares of International Flavors & Fragrances by 0.3% in the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after acquiring an additional 139 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of International Flavors & Fragrances by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,837 shares of the specialty chemicals company’s stock valued at $1,344,000 after acquiring an additional 158 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of International Flavors & Fragrances by 6.1% in the 3rd quarter. Clearstead Advisors LLC now owns 3,021 shares of the specialty chemicals company’s stock valued at $186,000 after acquiring an additional 173 shares in the last quarter. Parr Mcknight Wealth Management Group LLC raised its holdings in shares of International Flavors & Fragrances by 0.9% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 23,129 shares of the specialty chemicals company’s stock valued at $1,423,000 after acquiring an additional 199 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of International Flavors & Fragrances by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $4,685,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of NYSE IFF opened at $73.57 on Thursday. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $73.56 and its 200 day moving average is $71.92. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 1.89 and a beta of 0.94. International Flavors & Fragrances Inc. has a 1-year low of $59.14 and a 1-year high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data 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. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.57 EPS for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 48.93%.

Insider Activity

In other news, Director Paul J. Fribourg bought 260,000 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director owned 2,682,730 shares of the company’s stock, valued at approximately $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 415,500 shares of company stock valued at $30,276,875 in the last quarter. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IFF. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Berenberg Bank raised their price objective on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a report on Thursday, May 7th. BNP Paribas Exane raised their price objective on International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Barclays raised their price objective on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, UBS Group raised their price objective on International Flavors & Fragrances from $75.00 to $86.00 in a report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.49.

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.