Redwood Grove Capital LLC Buys 29,498 Shares of International Flavors & Fragrances Inc. (NYSE:IFF)

Redwood Grove Capital LLC raised its holdings in International Flavors & Fragrances Inc. (NYSE:IFF) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 198,682 shares of the specialty chemicals company’s stock after acquiring an additional 29,498 shares during the quarter. International Flavors & Fragrances makes up about 5.7% of Redwood Grove Capital LLC’s portfolio, making the stock its 4th largest holding. Redwood Grove Capital LLC owned about 0.08% of International Flavors & Fragrances worth $20,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IFF. Cetera Investment Advisers increased its position in International Flavors & Fragrances by 69.5% in the 1st quarter. Cetera Investment Advisers now owns 56,751 shares of the specialty chemicals company’s stock valued at $4,880,000 after acquiring an additional 23,278 shares during the period. Cetera Advisors LLC acquired a new position in shares of International Flavors & Fragrances in the 1st quarter worth approximately $693,000. CWM LLC lifted its position in shares of International Flavors & Fragrances by 9.1% in the 2nd quarter. CWM LLC now owns 6,431 shares of the specialty chemicals company’s stock worth $612,000 after purchasing an additional 535 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of International Flavors & Fragrances in the 2nd quarter worth approximately $227,000. Finally, CHICAGO TRUST Co NA lifted its position in shares of International Flavors & Fragrances by 32.6% in the 2nd quarter. CHICAGO TRUST Co NA now owns 10,058 shares of the specialty chemicals company’s stock worth $958,000 after purchasing an additional 2,470 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IFF has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $111.00 to $110.00 in a research report on Tuesday, November 12th. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Vertical Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.00.

Insiders Place Their Bets

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 in the company, valued at $297,086.50. This represents a 60.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of International Flavors & Fragrances stock opened at $89.30 on Thursday. The stock has a fifty day simple moving average of $97.55 and a 200 day simple moving average of $98.05. International Flavors & Fragrances Inc. has a 12-month low of $72.94 and a 12-month high of $106.77. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). International Flavors & Fragrances had a negative net margin of 20.33% and a positive return on equity of 7.16%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts expect that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.79%. International Flavors & Fragrances’s dividend payout ratio is currently -17.60%.

About International Flavors & Fragrances

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.