OFI Invest Asset Management Purchases Shares of 196,409 International Flavors & Fragrances Inc. (NYSE:IFF)

OFI Invest Asset Management purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 196,409 shares of the specialty chemicals company’s stock, valued at approximately $16,037,000.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $32,000. Point72 Hong Kong Ltd acquired a new position in International Flavors & Fragrances in the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC acquired a new position in International Flavors & Fragrances in the third quarter valued at approximately $48,000. Rialto Wealth Management LLC acquired a new position in International Flavors & Fragrances in the fourth quarter valued at approximately $42,000. Finally, Principal Securities Inc. increased its position in shares of International Flavors & Fragrances by 36.6% in the fourth quarter. Principal Securities Inc. now owns 638 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 171 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other International Flavors & Fragrances news, Director Kevin O’byrne acquired 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $522,860. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IFF shares. Cfra cut International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price objective for the company. in a research report on Thursday, February 20th. Citigroup cut their price objective on International Flavors & Fragrances from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Oppenheimer cut their price objective on International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Bank of America cut their price objective on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.50.

International Flavors & Fragrances Stock Up 0.7 %

Shares of NYSE:IFF opened at $82.60 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $83.80 and a two-hundred day moving average of $92.31. The stock has a market cap of $21.12 billion, a P/E ratio of 87.88, a PEG ratio of 1.45 and a beta of 1.21. International Flavors & Fragrances Inc. has a 52-week low of $78.64 and a 52-week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. On average, research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, March 21st. International Flavors & Fragrances’s payout ratio is 170.21%.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.