SEB Asset Management AB Takes $4.43 Million Position in International Flavors & Fragrances Inc. $IFF

SEB Asset Management AB purchased a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,093 shares of the specialty chemicals company’s stock, valued at approximately $4,432,000.

Other hedge funds have also recently bought and sold shares of the company. DNB Asset Management AS grew its position in 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 worth $3,622,000 after purchasing an additional 139 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of International Flavors & Fragrances by 0.8% during the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock valued at $1,162,000 after buying an additional 140 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of International Flavors & Fragrances by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 69,515 shares of the specialty chemicals company’s stock valued at $4,685,000 after buying an additional 200 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of International Flavors & Fragrances by 0.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock worth $2,855,000 after buying an additional 203 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of International Flavors & Fragrances by 55.7% during the first 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 period. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF opened at $77.22 on Thursday. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. International Flavors & Fragrances Inc. has a 12 month low of $59.14 and a 12 month high of $84.45. The stock’s 50 day moving average price is $76.54 and its 200 day moving average price is $74.57.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.64 billion. During the same period last year, the company posted $1.20 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that International Flavors & Fragrances Inc. will post 4.55 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, June 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, June 18th. International Flavors & Fragrances’s payout ratio is presently 48.93%.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction 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. The trade was a 10.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Rothschild & Co Redburn lowered their target price on International Flavors & Fragrances from $74.00 to $71.00 in a research report on Friday, May 8th. Jefferies Financial Group boosted their price target on International Flavors & Fragrances from $97.00 to $105.00 in a research report on Thursday, May 7th. Oppenheimer increased their price target on International Flavors & Fragrances from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lowered their price target on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.16.

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.