INTERNATIONAL FLAVORS & FRAGRANCES INC. $88 (New York symbol IFF; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 81.5 million; Market cap: $7.2 billion; Price-to-sales ratio: 2.5; Dividend yield: 1.8%; TSINetwork Rating: Above Average; www.iff.com) produces compounds that improve the taste of food and make consumer products smell better.
The company continues to benefit from rising demand in fast-growing markets like China, India and Turkey. In the three months ended September 30, 2013, sales in these countries rose 8% and now supply 48% of IFF’s total. That helped push up the company’s overall sales by 4.7% in the quarter, to $742.3 million from $709.0 million a year earlier. Earnings per share gained 13.0%, to $1.22 from $1.08.
IFF is a buy.