46,000 Shares in Inter Parfums, Inc. (NASDAQ:IPAR) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 46,000 shares of the company’s stock, valued at approximately $6,624,000.

Several other institutional investors also recently bought and sold shares of IPAR. JPMorgan Chase & Co. raised its stake in shares of Inter Parfums by 17.1% in the 1st quarter. JPMorgan Chase & Co. now owns 114,363 shares of the company’s stock valued at $10,069,000 after acquiring an additional 16,670 shares during the period. American Century Companies Inc. lifted its stake in shares of Inter Parfums by 21.1% during the first quarter. American Century Companies Inc. now owns 16,915 shares of the company’s stock worth $1,489,000 after purchasing an additional 2,949 shares in the last quarter. Citigroup Inc. boosted its position in shares of Inter Parfums by 10.0% in the first quarter. Citigroup Inc. now owns 15,487 shares of the company’s stock worth $1,364,000 after buying an additional 1,412 shares during the period. MetLife Investment Management LLC grew its stake in shares of Inter Parfums by 51.4% in the first quarter. MetLife Investment Management LLC now owns 9,932 shares of the company’s stock valued at $875,000 after buying an additional 3,372 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Inter Parfums by 5.0% during the 1st quarter. Rhumbline Advisers now owns 55,065 shares of the company’s stock valued at $4,848,000 after buying an additional 2,604 shares during the period. 55.57% of the stock is currently owned by hedge funds and other institutional investors.

Inter Parfums Stock Performance

Inter Parfums stock opened at $124.93 on Tuesday. Inter Parfums, Inc. has a 12-month low of $120.71 and a 12-month high of $161.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 26.30 and a beta of 1.13. The firm’s fifty day moving average price is $140.98 and its 200 day moving average price is $135.80.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results 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). The business had revenue of $328.74 million for the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums’s dividend payout ratio is 63.16%.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price target on Inter Parfums from $175.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th.

Insider Activity

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

Inter Parfums 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.