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.
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.
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