Tocqueville Asset Management L.P. Invests $80.42 Million in International Flavors & Fragrances Inc. $IFF

Tocqueville Asset Management L.P. bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,015,185 shares of the specialty chemicals company’s stock, valued at approximately $80,423,000. International Flavors & Fragrances accounts for about 1.1% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lloyd Advisory Services LLC. bought a new stake in International Flavors & Fragrances during the 4th quarter worth about $27,000. Root Financial Partners LLC grew its holdings in shares of International Flavors & Fragrances by 97.9% in the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 274 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of International Flavors & Fragrances by 55.7% in the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 610 shares in the last quarter. Finally, EFG International AG acquired a new position in International Flavors & Fragrances during the fourth quarter valued at approximately $73,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IFF. Weiss Ratings downgraded International Flavors & Fragrances from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. UBS Group increased their price objective on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, June 1st. BNP Paribas Exane upped their price target on shares of International Flavors & Fragrances from $85.00 to $95.00 in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn cut their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.16.

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the chief accounting officer directly owned 3,446 shares in the company, valued at $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $85.55, for a total value of $754,978.75. Following the sale, the executive vice president owned 5,199 shares of the company’s stock, valued at approximately $444,774.45. This represents a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,543 shares of company stock valued at $1,315,659 in the last 90 days. Insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Trading Up 2.8%

Shares of International Flavors & Fragrances stock opened at $83.23 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.06 and a quick ratio of 1.72. The business has a fifty day simple moving average of $79.32 and a two-hundred day simple moving average of $76.14. International Flavors & Fragrances Inc. has a 1 year low of $59.14 and a 1 year high of $89.32. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 76.36, a P/E/G ratio of 3.01 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Research analysts forecast that International Flavors & Fragrances Inc. will post 3.06 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is currently 146.79%.

International Flavors & Fragrances announced that its board has authorized a share buyback program on Tuesday, August 4th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.