Maryland State Retirement & Pension System Sells 453 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Maryland State Retirement & Pension System lessened its stake in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,153 shares of the specialty chemicals company’s stock after selling 453 shares during the period. Maryland State Retirement & Pension System’s holdings in International Flavors & Fragrances were worth $1,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of International Flavors & Fragrances by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 4,130 shares of the specialty chemicals company’s stock valued at $433,000 after purchasing an additional 251 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of International Flavors & Fragrances by 12.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,102 shares of the specialty chemicals company’s stock valued at $1,270,000 after purchasing an additional 1,329 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of International Flavors & Fragrances in the 3rd quarter valued at $1,740,000. PNC Financial Services Group Inc. increased its stake in shares of International Flavors & Fragrances by 5.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 38,705 shares of the specialty chemicals company’s stock valued at $4,061,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of International Flavors & Fragrances in the 3rd quarter valued at $1,153,000. Institutional investors own 96.02% of the company’s stock.

Insider Transactions at International Flavors & Fragrances

In other news, Director Kevin O’byrne bought 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.44 per share, with a total value of $522,860.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $522,860. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IFF. Barclays cut their price objective on International Flavors & Fragrances from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Bank of America cut their price objective on International Flavors & Fragrances from $105.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cfra downgraded International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 price objective on the stock. in a report on Thursday, February 20th. Argus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Stifel Nicolaus cut their price objective on International Flavors & Fragrances from $113.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

International Flavors & Fragrances Stock Performance

IFF stock opened at $77.93 on Friday. The stock has a 50-day moving average price of $83.23 and a 200-day moving average price of $90.78. International Flavors & Fragrances Inc. has a 1-year low of $77.28 and a 1-year high of $106.77. The company has a current ratio of 1.84, a quick ratio of 1.93 and a debt-to-equity ratio of 0.54. The firm has a market cap of $19.93 billion, a PE ratio of 82.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.14. International Flavors & Fragrances had a return on equity of 7.72% and a net margin of 2.12%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.32 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently 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.