Appian Way Asset Management LP Invests $2.99 Million in International Flavors & Fragrances Inc. (NYSE:IFF)

Appian Way Asset Management LP purchased a new stake in International Flavors & Fragrances Inc. (NYSE:IFF) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,400 shares of the specialty chemicals company’s stock, valued at approximately $2,990,000. International Flavors & Fragrances makes up approximately 0.8% of Appian Way Asset Management LP’s investment portfolio, making the stock its 24th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in shares of International Flavors & Fragrances by 28.2% in the 2nd quarter. Xponance Inc. now owns 44,941 shares of the specialty chemicals company’s stock valued at $4,279,000 after buying an additional 9,891 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of International Flavors & Fragrances by 69.5% during the second quarter. Public Sector Pension Investment Board now owns 9,794 shares of the specialty chemicals company’s stock worth $932,000 after purchasing an additional 4,015 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth about $259,000. Frank Rimerman Advisors LLC lifted its holdings in shares of International Flavors & Fragrances by 3,091.8% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,713 shares of the specialty chemicals company’s stock valued at $258,000 after purchasing an additional 2,628 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of International Flavors & Fragrances by 7.1% in the 2nd quarter. ProShare Advisors LLC now owns 44,048 shares of the specialty chemicals company’s stock valued at $4,194,000 after purchasing an additional 2,910 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $103.47 on Tuesday. International Flavors & Fragrances Inc. has a one year low of $62.28 and a one year high of $105.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38. The stock has a market capitalization of $26.42 billion, a price-to-earnings ratio of -10.59, a PEG ratio of 1.85 and a beta of 1.22. The company’s 50-day simple moving average is $99.95 and its 200-day simple moving average is $94.01.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities analysts anticipate that International Flavors & Fragrances Inc. will post 4.23 earnings per share for the current fiscal year.

International Flavors & Fragrances Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is presently -16.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IFF shares. Wells Fargo & Company boosted their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Morgan Stanley upped their price target on shares of International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 3rd. UBS Group lowered their price objective on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Citigroup upped their price target on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.87.

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.