Retirement Systems of Alabama increased its stake in shares of International Flavors & Fragrances Inc (NYSE:IFF) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 47,269 shares of the specialty chemicals company’s stock after purchasing an additional 97 shares during the quarter. Retirement Systems of Alabama’s holdings in International Flavors & Fragrances were worth $6,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. bought a new position in International Flavors & Fragrances in the 1st quarter valued at $26,000. Icon Wealth Partners LLC bought a new position in International Flavors & Fragrances in the 1st quarter valued at $38,000. Field & Main Bank bought a new position in International Flavors & Fragrances in the 1st quarter valued at $39,000. Penserra Capital Management LLC grew its position in International Flavors & Fragrances by 28.6% in the 1st quarter. Penserra Capital Management LLC now owns 360 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 80 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in International Flavors & Fragrances by 141.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 384 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of IFF traded down $1.51 during midday trading on Monday, reaching $144.81. 13,088 shares of the stock were exchanged, compared to its average volume of 596,730. International Flavors & Fragrances Inc has a 52 week low of $121.85 and a 52 week high of $152.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.58. The firm has a 50 day moving average price of $145.96. The company has a market capitalization of $15.61 billion, a P/E ratio of 23.03 and a beta of 0.76.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. International Flavors & Fragrances had a return on equity of 12.74% and a net margin of 7.29%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $1.79 EPS. The business’s revenue was up 39.4% compared to the same quarter last year. Analysts forecast that International Flavors & Fragrances Inc will post 6.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 24th were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, June 21st. International Flavors & Fragrances’s payout ratio is 46.50%.

Several brokerages have commented on IFF. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. UBS Group reissued a “buy” rating and set a $25.00 price target on shares of Infineon Technologies in a research report on Tuesday, May 7th. BNP Paribas downgraded International Flavors & Fragrances from a “neutral” rating to an “underperform” rating in a research report on Friday, June 21st. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Exane BNP Paribas downgraded International Flavors & Fragrances to an “underperform” rating in a research report on Friday, June 21st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. International Flavors & Fragrances presently has a consensus rating of “Hold” and an average target price of $150.25.

In related news, insider Nicolas Mirzayantz sold 928 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $144.69, for a total transaction of $134,272.32. Following the completion of the sale, the insider now directly owns 36,322 shares in the company, valued at approximately $5,255,430.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 10,508 shares of company stock worth $1,496,115 in the last three months. Corporate insiders own 0.39% of the company’s stock.

About International Flavors & Fragrances

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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