Concentric Capital Strategies LP Cuts Position in International Flavors & Fragrances Inc. (NYSE:IFF)

Concentric Capital Strategies LP cut its holdings in International Flavors & Fragrances Inc. (NYSE:IFF - Free Report) by 75.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,885 shares of the specialty chemicals company's stock after selling 49,489 shares during the quarter. Concentric Capital Strategies LP's holdings in International Flavors & Fragrances were worth $1,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pictet North America Advisors SA raised its stake in shares of International Flavors & Fragrances by 3.1% during the 3rd quarter. Pictet North America Advisors SA now owns 3,275 shares of the specialty chemicals company's stock worth $344,000 after purchasing an additional 99 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of International Flavors & Fragrances by 1.9% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,720 shares of the specialty chemicals company's stock worth $600,000 after purchasing an additional 107 shares in the last quarter. CWM LLC raised its stake in shares of International Flavors & Fragrances by 1.7% during the 3rd quarter. CWM LLC now owns 6,540 shares of the specialty chemicals company's stock worth $686,000 after purchasing an additional 109 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of International Flavors & Fragrances by 5.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company's stock worth $236,000 after purchasing an additional 117 shares in the last quarter. Finally, Orca Investment Management LLC raised its stake in International Flavors & Fragrances by 0.6% in the 3rd quarter. Orca Investment Management LLC now owns 21,266 shares of the specialty chemicals company's stock valued at $2,231,000 after acquiring an additional 122 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Stock Down 1.6 %

Shares of NYSE IFF traded down $1.44 during mid-day trading on Tuesday, hitting $89.83. 516,178 shares of the stock traded hands, compared to its average volume of 1,667,401. The stock has a fifty day moving average price of $97.84 and a 200-day moving average price of $98.12. The company has a market cap of $22.97 billion, a price-to-earnings ratio of -9.88, a PEG ratio of 1.61 and a beta of 1.17. International Flavors & Fragrances Inc. has a 52 week low of $72.94 and a 52 week high of $106.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 2.62.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46). The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. Research analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 EPS for the current year.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances's dividend payout ratio (DPR) is -17.60%.

Insider Transactions at International Flavors & Fragrances

In other International Flavors & Fragrances news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now owns 3,238 shares of the company's stock, valued at approximately $297,086.50. This trade represents a 60.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IFF shares. Mizuho upgraded International Flavors & Fragrances from a "neutral" rating to an "outperform" rating and increased their price target for the company from $109.00 to $120.00 in a research note on Tuesday, September 3rd. Barclays increased their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the company an "equal weight" rating in a research note on Friday, October 11th. Vertical Research upgraded International Flavors & Fragrances from a "hold" rating to a "buy" rating and set a $109.00 price objective on the stock in a research report on Thursday, November 7th. Morgan Stanley upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $111.00 to $110.00 in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus increased their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.00.

International Flavors & Fragrances Company 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.