Public Employees Retirement System of Ohio Purchases New Position in International Flavors & Fragrances Inc. $IFF

Public Employees Retirement System of Ohio purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,004 shares of the specialty chemicals company’s stock, valued at approximately $6,259,000.

Other institutional investors have also modified their holdings of the company. DNB Asset Management AS grew its position in shares of International Flavors & Fragrances by 0.3% in the 4th quarter. DNB Asset Management AS now owns 53,741 shares of the specialty chemicals company’s stock valued at $3,622,000 after buying an additional 139 shares during the last quarter. MML Investors Services LLC lifted its position in International Flavors & Fragrances by 0.8% in the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock valued at $1,162,000 after acquiring an additional 140 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in International Flavors & Fragrances by 0.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 42,033 shares of the specialty chemicals company’s stock valued at $2,855,000 after acquiring an additional 203 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of International Flavors & Fragrances by 6.3% during the first quarter. QRG Capital Management Inc. now owns 3,875 shares of the specialty chemicals company’s stock worth $281,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 0.5%

Shares of IFF stock opened at $85.86 on Wednesday. The company has a market capitalization of $21.91 billion, a P/E ratio of 78.77, a price-to-earnings-growth ratio of 3.19 and a beta of 0.94. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $80.98 and its two-hundred day moving average is $76.94. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $89.32.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results 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). International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the company earned $1.15 EPS. International Flavors & Fragrances’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts forecast that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

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

International Flavors & Fragrances Announces Dividend

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

Insider Activity at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the chief accounting officer owned 3,446 shares of the company’s stock, valued at approximately $292,910. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 over the last 90 days. Company insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IFF. Morgan Stanley lifted their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group lifted their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Rothschild & Co Redburn decreased their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of International Flavors & Fragrances from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average price target of $91.40.

About International Flavors & Fragrances

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.