Bar Harbor Wealth Management Buys 2,071 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Bar Harbor Wealth Management raised its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,377 shares of the specialty chemicals company’s stock after purchasing an additional 2,071 shares during the period. Bar Harbor Wealth Management’s holdings in International Flavors & Fragrances were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of International Flavors & Fragrances during the 3rd quarter worth approximately $27,000. Point72 Hong Kong Ltd bought a new stake in shares of International Flavors & Fragrances in the third quarter valued at approximately $42,000. Oakworth Capital Inc. acquired a new stake in International Flavors & Fragrances during the third quarter worth approximately $44,000. Eastern Bank acquired a new position in International Flavors & Fragrances in the 3rd quarter valued at $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of International Flavors & Fragrances during the 2nd quarter worth $48,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF traded up $1.85 during trading hours on Monday, reaching $83.21. 1,010,897 shares of the stock traded hands, compared to its average volume of 1,465,417. The company has a market capitalization of $21.28 billion, a P/E ratio of -9.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The company’s 50-day simple moving average is $87.77 and its two-hundred day simple moving average is $95.91. The company has a quick ratio of 1.93, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. International Flavors & Fragrances Inc. has a 52-week low of $72.94 and a 52-week high of $106.77.

International Flavors & Fragrances (NYSE:IFF) 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 the consensus estimate 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 business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities research analysts forecast that International Flavors & Fragrances Inc. will post 4.16 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, December 20th. International Flavors & Fragrances’s payout ratio is -17.60%.

Insider Activity at International Flavors & Fragrances

In related news, insider Yuvraj Arora sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $91.75, for a total value of $458,750.00. Following the transaction, the insider now directly owns 3,238 shares of the company’s stock, valued at approximately $297,086.50. This represents a 60.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on IFF shares. Argus raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Morgan Stanley raised International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $111.00 to $110.00 in a report on Tuesday, November 12th. Stifel Nicolaus lifted their price target on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Friday, November 8th. Finally, Barclays increased their price objective on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.08.

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.