Granite Investment Partners LLC Cuts Stock Position in Inter Parfums, Inc. (NASDAQ:IPAR)

Granite Investment Partners LLC decreased its position in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,926 shares of the company’s stock after selling 57,641 shares during the period. Granite Investment Partners LLC owned about 0.47% of Inter Parfums worth $19,980,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Inter Parfums by 55.9% during the fourth quarter. GAMMA Investing LLC now owns 226 shares of the company’s stock worth $30,000 after purchasing an additional 81 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Inter Parfums by 7.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,816 shares of the company’s stock worth $239,000 after buying an additional 124 shares during the period. Level Four Advisory Services LLC lifted its holdings in Inter Parfums by 1.9% during the 4th quarter. Level Four Advisory Services LLC now owns 8,101 shares of the company’s stock worth $1,065,000 after buying an additional 154 shares in the last quarter. Blue Trust Inc. boosted its position in Inter Parfums by 25.7% in the 4th quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $106,000 after buying an additional 167 shares during the period. Finally, Principal Securities Inc. boosted its position in Inter Parfums by 15.1% in the 4th quarter. Principal Securities Inc. now owns 1,323 shares of the company’s stock valued at $174,000 after buying an additional 174 shares during the period. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Monday, March 17th. DA Davidson reaffirmed a “buy” rating and issued a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group lifted their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $106.10 on Friday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 22.77 and a beta of 1.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 52 week low of $97.65 and a 52 week high of $148.15. The firm’s 50 day moving average is $125.20 and its two-hundred day moving average is $128.79.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company had revenue of $361.50 million during the quarter, compared to analysts’ expectations of $361.56 million. Research analysts forecast that Inter Parfums, Inc. will post 5.14 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.02%. Inter Parfums’s dividend payout ratio is 62.87%.

About Inter Parfums

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.