OLD National Bancorp IN Makes New Investment in International Flavors & Fragrances Inc. (NYSE:IFF)

OLD National Bancorp IN bought a new position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,556 shares of the specialty chemicals company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently bought and sold shares of IFF. Handelsbanken Fonder AB increased its position in shares of International Flavors & Fragrances by 105.1% during the fourth quarter. Handelsbanken Fonder AB now owns 127,187 shares of the specialty chemicals company’s stock worth $10,298,000 after purchasing an additional 65,187 shares in the last quarter. CWM LLC increased its position in shares of International Flavors & Fragrances by 29.3% during the fourth quarter. CWM LLC now owns 6,430 shares of the specialty chemicals company’s stock worth $521,000 after purchasing an additional 1,458 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of International Flavors & Fragrances by 14.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,892 shares of the specialty chemicals company’s stock worth $2,258,000 after purchasing an additional 3,592 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of International Flavors & Fragrances by 212.5% during the fourth quarter. Lindbrook Capital LLC now owns 1,919 shares of the specialty chemicals company’s stock worth $155,000 after purchasing an additional 1,305 shares in the last quarter. Finally, abrdn plc increased its position in shares of International Flavors & Fragrances by 21.5% during the fourth quarter. abrdn plc now owns 284,797 shares of the specialty chemicals company’s stock worth $23,060,000 after purchasing an additional 50,367 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IFF shares. Mizuho upped their price target on International Flavors & Fragrances from $83.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their target price on International Flavors & Fragrances from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and upped their target price for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Deutsche Bank Aktiengesellschaft upped their target price on International Flavors & Fragrances from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus cut their target price on International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances has a consensus rating of “Hold” and an average price target of $86.35.

International Flavors & Fragrances Trading Up 0.3 %

IFF stock opened at $84.61 on Friday. The company’s 50-day simple moving average is $82.06 and its 200-day simple moving average is $78.08. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances Inc. has a 52-week low of $62.11 and a 52-week high of $97.49. The firm has a market cap of $21.60 billion, a P/E ratio of -8.43, a PEG ratio of 1.90 and a beta of 1.23.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.03). International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company earned $0.97 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. As a group, equities analysts forecast that International Flavors & Fragrances Inc. will post 3.69 EPS for the current fiscal year.

International Flavors & Fragrances Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, March 21st. International Flavors & Fragrances’s payout ratio is currently -15.94%.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.