Strs Ohio Sells 300 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Strs Ohio reduced its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,300 shares of the company’s stock after selling 300 shares during the period. Strs Ohio’s holdings in Inter Parfums were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IPAR. Ronald Blue Trust Inc. lifted its holdings in shares of Inter Parfums by 112.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 432 shares of the company’s stock worth $58,000 after acquiring an additional 229 shares during the last quarter. SG Americas Securities LLC purchased a new position in Inter Parfums in the 3rd quarter worth $1,294,000. Raymond James & Associates raised its position in Inter Parfums by 2.2% in the 3rd quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock worth $13,743,000 after purchasing an additional 2,236 shares during the period. Redwood Investments LLC purchased a new position in Inter Parfums in the 3rd quarter worth $6,865,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Inter Parfums by 13.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock worth $525,000 after purchasing an additional 478 shares during the period. 55.57% of the stock is owned by institutional investors.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 43.90% of the stock is owned by corporate insiders.

Inter Parfums Price Performance

IPAR stock opened at $131.11 on Wednesday. The firm’s 50-day moving average price is $138.54 and its two-hundred day moving average price is $135.56. Inter Parfums, Inc. has a 12-month low of $120.71 and a 12-month high of $158.76. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 27.60 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million during the quarter, compared to analysts’ expectations of $329.00 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Inter Parfums’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Inter Parfums, Inc. will post 5.16 earnings per share for the current year.

Inter Parfums Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.29%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s payout ratio is currently 63.16%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IPAR. Piper Sandler lifted their target price on shares of Inter Parfums from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.