M&T Bank Corp Sells 2,488 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

M&T Bank Corp decreased its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,830 shares of the specialty chemicals company’s stock after selling 2,488 shares during the period. M&T Bank Corp’s holdings in International Flavors & Fragrances were worth $6,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co bought a new stake in shares of International Flavors & Fragrances during the second quarter valued at approximately $204,000. Blue Trust Inc. increased its holdings in International Flavors & Fragrances by 36.8% in the 2nd quarter. Blue Trust Inc. now owns 1,885 shares of the specialty chemicals company’s stock valued at $179,000 after acquiring an additional 507 shares during the last quarter. Rovin Capital UT ADV lifted its stake in International Flavors & Fragrances by 3.3% in the 2nd quarter. Rovin Capital UT ADV now owns 8,149 shares of the specialty chemicals company’s stock worth $776,000 after purchasing an additional 259 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of International Flavors & Fragrances by 20.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 26,633 shares of the specialty chemicals company’s stock valued at $2,546,000 after purchasing an additional 4,455 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in shares of International Flavors & Fragrances by 10.6% during the second quarter. ZWJ Investment Counsel Inc. now owns 259,175 shares of the specialty chemicals company’s stock valued at $24,676,000 after purchasing an additional 24,800 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at International Flavors & Fragrances

In related news, insider Yuvraj Arora sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $91.75, for a total value of $458,750.00. Following the completion of the sale, the insider now directly owns 3,238 shares of the company’s stock, valued at $297,086.50. This represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. UBS Group raised their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Barclays upped their price target on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $111.00 to $110.00 in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price target on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.00.

International Flavors & Fragrances Price Performance

IFF opened at $88.10 on Friday. The business has a fifty day moving average of $95.46 and a 200 day moving average of $97.65. The stock has a market cap of $22.53 billion, a P/E ratio of -9.69, a PEG ratio of 1.57 and a beta of 1.17. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 52-week low of $72.94 and a 52-week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, sell-side analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio is -17.60%.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.