M&T Bank Corp Has $6.07 Million Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

M&T Bank Corp cut its holdings in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,830 shares of the specialty chemicals company’s stock after selling 2,488 shares during the period. M&T Bank Corp’s holdings in International Flavors & Fragrances were worth $6,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of International Flavors & Fragrances by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 615,006 shares of the specialty chemicals company’s stock valued at $64,533,000 after purchasing an additional 7,553 shares during the period. Kimelman & Baird LLC acquired a new position in shares of International Flavors & Fragrances in the second quarter valued at approximately $868,000. GM Advisory Group LLC bought a new stake in shares of International Flavors & Fragrances during the second quarter worth $686,000. Appian Way Asset Management LP acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth $2,990,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in International Flavors & Fragrances in the 3rd quarter valued at $1,740,000. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IFF shares. JPMorgan Chase & Co. dropped their price target on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Oppenheimer boosted their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their price target on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $111.00 to $110.00 in a report on Tuesday, November 12th. Finally, Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.21.

Insiders Place Their Bets

In other International Flavors & Fragrances news, insider Yuvraj Arora sold 5,000 shares of the company’s stock in a transaction 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 $297,086.50. This represents a 60.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $85.74 on Monday. 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 12-month low of $72.94 and a 12-month high of $106.77. The stock’s 50 day moving average price is $93.60 and its two-hundred day moving average price is $97.27. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of -9.43, a P/E/G ratio of 1.55 and a beta of 1.17.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts anticipate that International Flavors & Fragrances Inc. will post 4.16 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.87%. 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.