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

Strs Ohio decreased its stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) by 3.9% in the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in Inter Parfums during the fourth quarter valued at $27,000. Harvest Fund Management Co. Ltd bought a new position in Inter Parfums during the third quarter valued at $55,000. Ronald Blue Trust Inc. lifted its position in Inter Parfums by 112.8% during the third quarter. Ronald Blue Trust Inc. now owns 432 shares of the company’s stock valued at $58,000 after purchasing an additional 229 shares during the last quarter. Covestor Ltd lifted its position in Inter Parfums by 30.5% during the third quarter. Covestor Ltd now owns 1,236 shares of the company’s stock valued at $166,000 after purchasing an additional 289 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Inter Parfums during the fourth quarter valued at $206,000. Institutional investors own 55.57% of the company’s stock.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 250 shares of Inter Parfums 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 completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IPAR shares. Piper Sandler increased their price objective on shares of Inter Parfums from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, April 17th.

Inter Parfums Price Performance

IPAR stock opened at $131.11 on Wednesday. Inter Parfums, Inc. has a 12 month low of $120.71 and a 12 month high of $158.76. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $138.54 and a 200 day moving average price of $135.56. The stock has a market cap of $4.20 billion, a PE ratio of 27.60 and a beta of 1.13.

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

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.75 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 2.29%. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.

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.