Impax Asset Management Group plc Cuts Stake in International Flavors & Fragrances Inc. (NYSE:IFF)

Impax Asset Management Group plc cut its stake in International Flavors & Fragrances Inc. (NYSE:IFF) by 92.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,194 shares of the specialty chemicals company’s stock after selling 679,741 shares during the quarter. Impax Asset Management Group plc’s holdings in International Flavors & Fragrances were worth $5,792,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. raised its position in International Flavors & Fragrances by 5.2% in the third quarter. Quintet Private Bank Europe S.A. now owns 14,378 shares of the specialty chemicals company’s stock valued at $1,509,000 after purchasing an additional 717 shares during the period. QRG Capital Management Inc. grew its stake in shares of International Flavors & Fragrances by 36.9% during the third quarter. QRG Capital Management Inc. now owns 4,389 shares of the specialty chemicals company’s stock valued at $461,000 after acquiring an additional 1,183 shares in the last quarter. National Pension Service grew its stake in shares of International Flavors & Fragrances by 9.8% during the third quarter. National Pension Service now owns 371,859 shares of the specialty chemicals company’s stock valued at $39,019,000 after acquiring an additional 33,172 shares in the last quarter. Forum Financial Management LP acquired a new stake in shares of International Flavors & Fragrances during the third quarter valued at about $258,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of International Flavors & Fragrances by 70.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 708,081 shares of the specialty chemicals company’s stock valued at $74,299,000 after acquiring an additional 293,760 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Trading Up 0.1 %

NYSE:IFF opened at $99.10 on Wednesday. International Flavors & Fragrances Inc. has a 12-month low of $69.73 and a 12-month high of $106.77. The firm has a market capitalization of $25.34 billion, a P/E ratio of -10.75, a P/E/G ratio of 1.76 and a beta of 1.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. The business has a 50 day simple moving average of $102.97 and a 200 day simple moving average of $98.06.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts predict that International Flavors & Fragrances Inc. will post 4.24 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. International Flavors & Fragrances’s dividend payout ratio is currently -17.35%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays raised their target price on 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. Stifel Nicolaus raised their target price on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group decreased their price target on International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company upped their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, International Flavors & Fragrances currently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

International Flavors & Fragrances Company Profile

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.