Connor Clark & Lunn Investment Management Ltd. Has $10.93 Million Stock Holdings in International Flavors & Fragrances Inc. (NYSE:IFF)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in International Flavors & Fragrances Inc. (NYSE:IFF) by 63.6% during the third quarter, Holdings Channel reports. The institutional investor owned 104,132 shares of the specialty chemicals company’s stock after selling 182,129 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in International Flavors & Fragrances were worth $10,927,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Commerce Bank raised its stake in shares of International Flavors & Fragrances by 16.3% in the 3rd quarter. Commerce Bank now owns 3,989 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 558 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of International Flavors & Fragrances in the 3rd quarter valued at about $1,153,000. PNC Financial Services Group Inc. increased its position in shares of International Flavors & Fragrances by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 38,705 shares of the specialty chemicals company’s stock valued at $4,061,000 after acquiring an additional 1,950 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in International Flavors & Fragrances during the third quarter valued at approximately $1,740,000. Finally, Strengthening Families & Communities LLC raised its position in International Flavors & Fragrances by 8.8% during the third quarter. Strengthening Families & Communities LLC now owns 21,066 shares of the specialty chemicals company’s stock worth $2,210,000 after acquiring an additional 1,695 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $89.92 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.93 and a current ratio of 2.62. The company’s fifty day moving average is $99.58 and its two-hundred day moving average is $98.32. International Flavors & Fragrances Inc. has a 1 year low of $72.94 and a 1 year high of $106.77. The stock has a market capitalization of $22.99 billion, a P/E ratio of -9.89, a P/E/G ratio of 1.57 and a beta of 1.22.

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 for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the business earned $0.89 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that International Flavors & Fragrances Inc. will post 4.17 earnings per share for the current year.

International Flavors & Fragrances Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.78%. International Flavors & Fragrances’s payout ratio is -17.60%.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, insider Yuvraj Arora sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $91.75, for a total transaction of $458,750.00. Following the transaction, the insider now directly owns 3,238 shares in the company, valued at $297,086.50. This represents a 60.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Barclays boosted their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Bank of America upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.27.

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.