HGK Asset Management Inc. Invests $6 Million in International Flavors & Fragrances Inc (IFF) Stock

HGK Asset Management Inc. bought a new position in shares of International Flavors & Fragrances Inc (NYSE:IFF) in the 1st quarter, Holdings Channel reports. The fund bought 46,583 shares of the specialty chemicals company’s stock, valued at approximately $5,999,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Winder Investment Pte Ltd grew its stake in International Flavors & Fragrances by 9.3% during the 4th quarter. Winder Investment Pte Ltd now owns 19,536,858 shares of the specialty chemicals company’s stock worth $2,623,214,000 after purchasing an additional 1,664,698 shares in the last quarter. Vanguard Group Inc grew its stake in International Flavors & Fragrances by 13.7% during the 3rd quarter. Vanguard Group Inc now owns 10,298,969 shares of the specialty chemicals company’s stock worth $1,432,792,000 after purchasing an additional 1,239,892 shares in the last quarter. BlackRock Inc. grew its stake in International Flavors & Fragrances by 14.5% during the 4th quarter. BlackRock Inc. now owns 6,794,818 shares of the specialty chemicals company’s stock worth $912,341,000 after purchasing an additional 858,430 shares in the last quarter. FMR LLC grew its stake in International Flavors & Fragrances by 32.4% during the 4th quarter. FMR LLC now owns 3,032,597 shares of the specialty chemicals company’s stock worth $406,944,000 after purchasing an additional 741,633 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in International Flavors & Fragrances by 28.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,262,638 shares of the specialty chemicals company’s stock worth $303,803,000 after purchasing an additional 504,827 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

In other International Flavors & Fragrances news, major shareholder Winder Investment Pte Ltd purchased 29,642 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was bought at an average cost of $128.74 per share, with a total value of $3,816,111.08. Following the acquisition, the insider now directly owns 20,300,000 shares of the company’s stock, valued at $2,613,422,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicolas Mirzayantz sold 3,472 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $136.73, for a total value of $474,726.56. Following the completion of the sale, the insider now directly owns 45,858 shares of the company’s stock, valued at $6,270,164.34. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Shares of NYSE IFF opened at $136.67 on Friday. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 21.76 and a beta of 0.77. The company has a quick ratio of 1.58, a current ratio of 2.56 and a debt-to-equity ratio of 0.72. International Flavors & Fragrances Inc has a 1 year low of $121.85 and a 1 year high of $150.57.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. International Flavors & Fragrances had a return on equity of 12.74% and a net margin of 7.29%. International Flavors & Fragrances’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.79 EPS. On average, equities research analysts expect that International Flavors & Fragrances Inc will post 6.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is 46.50%.

Several research analysts recently commented on the company. Zacks Investment Research raised International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Barclays reissued a “sell” rating on shares of International Flavors & Fragrances in a research note on Monday, February 18th. KeyCorp lowered their target price on International Flavors & Fragrances from $160.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, February 25th. Citigroup lowered their target price on International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, February 21st. Finally, Seaport Global Securities began coverage on International Flavors & Fragrances in a report on Thursday, February 21st. They set a “neutral” rating for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $148.25.

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International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Institutional Ownership by Quarter for International Flavors & Fragrances (NYSE:IFF)

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