International Flavors & Fragrances Inc (NYSE:IFF) Short Interest Up 6.8% in September

International Flavors & Fragrances Inc (NYSE:IFF) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 13,440,000 shares, an increase of 6.8% from the August 30th total of 12,580,000 shares. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 11.3 days. Currently, 12.6% of the company’s stock are short sold.

In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 928 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $126.26, for a total value of $117,169.28. Following the sale, the insider now owns 34,465 shares in the company, valued at $4,351,550.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 2,786 shares of company stock worth $330,449. Corporate insiders own 0.39% of the company’s stock.

Large investors have recently bought and sold shares of the company. First Trust Advisors LP raised its position in International Flavors & Fragrances by 2,214.1% in the 1st quarter. First Trust Advisors LP now owns 270,523 shares of the specialty chemicals company’s stock valued at $34,841,000 after purchasing an additional 258,833 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of International Flavors & Fragrances by 9.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 89,871 shares of the specialty chemicals company’s stock valued at $11,574,000 after buying an additional 7,760 shares during the period. Marshall Wace LLP increased its stake in shares of International Flavors & Fragrances by 352.2% in the 1st quarter. Marshall Wace LLP now owns 29,507 shares of the specialty chemicals company’s stock valued at $3,799,000 after buying an additional 22,982 shares during the period. Hendley & Co. Inc. increased its stake in shares of International Flavors & Fragrances by 9.1% in the 1st quarter. Hendley & Co. Inc. now owns 25,574 shares of the specialty chemicals company’s stock valued at $3,294,000 after buying an additional 2,134 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of International Flavors & Fragrances by 26.9% in the 1st quarter. Nordea Investment Management AB now owns 1,073,179 shares of the specialty chemicals company’s stock valued at $138,217,000 after buying an additional 227,602 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

A number of brokerages have weighed in on IFF. Exane BNP Paribas cut shares of International Flavors & Fragrances to an “underperform” rating in a report on Friday, June 21st. Berenberg Bank cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and cut their price objective for the stock from $155.00 to $133.00 in a report on Thursday, August 8th. BNP Paribas cut shares of International Flavors & Fragrances from a “neutral” rating to an “underperform” rating in a report on Friday, June 21st. JPMorgan Chase & Co. upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $127.00 to $125.00 in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating and set a $151.00 price objective on the stock in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $138.09.

Shares of NYSE:IFF traded up $0.61 during trading on Thursday, reaching $119.77. 188,141 shares of the stock traded hands, compared to its average volume of 1,019,690. The stock has a 50-day moving average of $118.25 and a two-hundred day moving average of $131.93. International Flavors & Fragrances has a 52-week low of $104.86 and a 52-week high of $152.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.59 and a current ratio of 2.60. The stock has a market cap of $12.63 billion, a P/E ratio of 19.07 and a beta of 0.84.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.61. International Flavors & Fragrances had a net margin of 7.51% and a return on equity of 10.48%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. Sell-side analysts expect that International Flavors & Fragrances will post 6.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.75 per share. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, September 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. International Flavors & Fragrances’s dividend payout ratio is presently 47.77%.

About International Flavors & Fragrances

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

Featured Article: What is diluted earnings per share (Diluted EPS)?

Receive News & Ratings for International Flavors & Fragrances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Flavors & Fragrances and related companies with MarketBeat.com's FREE daily email newsletter.