Redwood Grove Capital LLC Makes New $17.40 Million Investment in International Flavors & Fragrances Inc. $IFF

Redwood Grove Capital LLC bought a new position in International Flavors & Fragrances Inc. (NYSE:IFF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 219,682 shares of the specialty chemicals company’s stock, valued at approximately $17,403,000. International Flavors & Fragrances makes up approximately 4.4% of Redwood Grove Capital LLC’s portfolio, making the stock its 12th largest holding. Redwood Grove Capital LLC owned 0.09% of International Flavors & Fragrances as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Group AG lifted its position in International Flavors & Fragrances by 53.5% during the 4th quarter. UBS Group AG now owns 1,695,343 shares of the specialty chemicals company’s stock valued at $114,249,000 after acquiring an additional 590,997 shares during the period. First Eagle Investment Management LLC grew its holdings in International Flavors & Fragrances by 27.5% in the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company’s stock worth $595,166,000 after purchasing an additional 1,904,598 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of International Flavors & Fragrances by 117.0% during the fourth quarter. Swiss Life Asset Management Ltd now owns 148,377 shares of the specialty chemicals company’s stock valued at $9,999,000 after purchasing an additional 80,014 shares in the last quarter. Strs Ohio increased its stake in shares of International Flavors & Fragrances by 346.2% during the fourth quarter. Strs Ohio now owns 27,337 shares of the specialty chemicals company’s stock valued at $1,842,000 after purchasing an additional 21,211 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of International Flavors & Fragrances by 38.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,570 shares of the specialty chemicals company’s stock worth $56,921,000 after purchasing an additional 218,420 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 1.8%

Shares of International Flavors & Fragrances stock opened at $87.32 on Wednesday. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $89.32. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $79.90 and its 200 day moving average is $76.54. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 80.11, a price-to-earnings-growth ratio of 3.17 and a beta of 0.93.

International Flavors & Fragrances (NYSE:IFF) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25). The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. Research analysts anticipate that International Flavors & Fragrances Inc. will post 3.08 EPS for the current year.

International Flavors & Fragrances declared that its board has authorized a stock buyback program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio is 146.79%.

Insider Transactions at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 260,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the purchase, the director directly owned 2,682,730 shares in the company, valued at $199,273,184.40. This trade represents a 10.73% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marc Birenkrant sold 1,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the sale, the chief accounting officer directly owned 3,446 shares of the company’s stock, valued at $292,910. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last ninety days. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IFF shares. Vertical Research lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Barclays raised their price target on International Flavors & Fragrances from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Argus upped their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Benchmark increased their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.40.

International Flavors & Fragrances Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.