Camden National Bank Buys 3,233 Shares of International Flavors & Fragrances Inc (IFF)

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Camden National Bank grew its stake in International Flavors & Fragrances Inc (NYSE:IFF) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,712 shares of the specialty chemicals company’s stock after buying an additional 3,233 shares during the period. Camden National Bank owned 0.06% of International Flavors & Fragrances worth $6,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IFF. Wells Fargo & Company MN increased its stake in shares of International Flavors & Fragrances by 11.8% in the first quarter. Wells Fargo & Company MN now owns 1,533,410 shares of the specialty chemicals company’s stock valued at $209,939,000 after buying an additional 161,663 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of International Flavors & Fragrances by 28.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,211 shares of the specialty chemicals company’s stock valued at $2,630,000 after buying an additional 4,237 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of International Flavors & Fragrances by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 220,593 shares of the specialty chemicals company’s stock valued at $30,201,000 after buying an additional 2,178 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of International Flavors & Fragrances by 23.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 137,445 shares of the specialty chemicals company’s stock valued at $18,818,000 after buying an additional 25,710 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of International Flavors & Fragrances by 46.3% during the 1st quarter. SG Americas Securities LLC now owns 29,338 shares of the specialty chemicals company’s stock valued at $4,017,000 after purchasing an additional 9,282 shares in the last quarter. 85.27% of the stock is owned by institutional investors.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Monday, August 13th. Stifel Nicolaus restated a “hold” rating and set a $139.00 target price (up previously from $135.00) on shares of International Flavors & Fragrances in a research report on Thursday, August 9th. Sanford C. Bernstein set a $155.00 target price on International Flavors & Fragrances and gave the company a “buy” rating in a research report on Thursday, May 10th. ValuEngine upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Argus lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $146.67.

Shares of International Flavors & Fragrances stock traded down $0.33 on Thursday, hitting $129.94. 4,186 shares of the company’s stock traded hands, compared to its average volume of 618,040. International Flavors & Fragrances Inc has a one year low of $122.11 and a one year high of $157.40. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.90 and a quick ratio of 1.90. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.32 and a beta of 1.05.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, August 7th. The specialty chemicals company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.05. The business had revenue of $920.02 million for the quarter, compared to analyst estimates of $899.62 million. International Flavors & Fragrances had a return on equity of 28.32% and a net margin of 8.35%. During the same quarter in the prior year, the company earned $1.50 earnings per share. sell-side analysts expect that International Flavors & Fragrances Inc will post 6.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Monday, September 24th will be issued a $0.73 dividend. The ex-dividend date is Friday, September 21st. This represents a $2.92 annualized dividend and a yield of 2.25%. This is a positive change from International Flavors & Fragrances’s previous quarterly dividend of $0.69. International Flavors & Fragrances’s dividend payout ratio is presently 46.86%.

In other news, major shareholder Winder Investment Pte Ltd purchased 100,000 shares of the business’s stock in a transaction on Monday, June 4th. The shares were acquired at an average price of $124.10 per share, for a total transaction of $12,410,000.00. Following the completion of the acquisition, the insider now owns 13,100,000 shares in the company, valued at $1,625,710,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dale F. Morrison purchased 4,010 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was purchased at an average price of $124.60 per share, for a total transaction of $499,646.00. Following the acquisition, the director now owns 4,010 shares of the company’s stock, valued at approximately $499,646. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,547,810 shares of company stock worth $199,935,967. Corporate insiders own 0.48% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through two segments, Flavors and Fragrances. The Flavors 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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