Crawford Investment Counsel Inc. Buys 5,325 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Crawford Investment Counsel Inc. increased its stake in Inter Parfums, Inc. (NASDAQ:IPARGet Rating) by 16.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,255 shares of the company’s stock after purchasing an additional 5,325 shares during the quarter. Crawford Investment Counsel Inc. owned approximately 0.12% of Inter Parfums worth $3,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPAR. Fifth Third Bancorp lifted its holdings in shares of Inter Parfums by 91.4% during the first quarter. Fifth Third Bancorp now owns 291 shares of the company’s stock valued at $26,000 after acquiring an additional 139 shares during the period. Meeder Asset Management Inc. bought a new position in Inter Parfums during the first quarter worth about $64,000. Lazard Asset Management LLC increased its stake in Inter Parfums by 39.7% during the 4th quarter. Lazard Asset Management LLC now owns 908 shares of the company’s stock worth $97,000 after purchasing an additional 258 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Inter Parfums in the 1st quarter valued at $211,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of Inter Parfums by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,561 shares of the company’s stock worth $225,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 55.58% of the company’s stock.

Inter Parfums Stock Performance

Inter Parfums stock opened at $81.77 on Friday. The firm has a market capitalization of $2.60 billion, a PE ratio of 26.21 and a beta of 1.01. Inter Parfums, Inc. has a 1-year low of $64.52 and a 1-year high of $108.35. The firm’s 50 day simple moving average is $79.63 and its 200 day simple moving average is $79.41. The company has a current ratio of 2.89, a quick ratio of 1.76 and a debt-to-equity ratio of 0.16.

Inter Parfums (NASDAQ:IPARGet Rating) last issued its earnings results on Tuesday, August 9th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.10). The company had revenue of $244.70 million for the quarter, compared to analysts’ expectations of $215.78 million. Inter Parfums had a net margin of 10.32% and a return on equity of 13.43%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, analysts expect that Inter Parfums, Inc. will post 3.25 earnings per share for the current fiscal year.

Inter Parfums Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 14th. Inter Parfums’s payout ratio is 64.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. DA Davidson lifted their price objective on shares of Inter Parfums from $87.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 26th. TheStreet raised shares of Inter Parfums from a “c+” rating to a “b-” rating in a research report on Monday, August 15th. Piper Sandler began coverage on shares of Inter Parfums in a research note on Friday. They issued an “overweight” rating and a $102.00 price target on the stock. Finally, Citigroup raised Inter Parfums from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Monday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Insiders Place Their Bets

In related news, CFO Russell Greenberg sold 9,016 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $81.25, for a total value of $732,550.00. Following the transaction, the chief financial officer now owns 7,500 shares of the company’s stock, valued at $609,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Inter Parfums news, CFO Russell Greenberg sold 9,016 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $81.25, for a total transaction of $732,550.00. Following the completion of the sale, the chief financial officer now directly owns 7,500 shares of the company’s stock, valued at approximately $609,375. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Veronique Gabai-Pinsky sold 2,000 shares of Inter Parfums stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $82.42, for a total value of $164,840.00. The disclosure for this sale can be found here. 44.20% of the stock is owned by insiders.

Inter Parfums Profile

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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. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.

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Institutional Ownership by Quarter for Inter Parfums (NASDAQ:IPAR)

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