Bahl & Gaynor Inc. cut its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 11.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,869 shares of the company’s stock after selling 4,915 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.13% of Inter Parfums worth $1,306,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in IPAR. SG Americas Securities LLC purchased a new stake in shares of Inter Parfums in the first quarter valued at approximately $107,000. US Bancorp DE increased its position in shares of Inter Parfums by 45.4% in the first quarter. US Bancorp DE now owns 3,187 shares of the company’s stock valued at $116,000 after buying an additional 995 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Inter Parfums by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock valued at $123,000 after buying an additional 1,490 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Inter Parfums by 39.4% in the first quarter. Victory Capital Management Inc. now owns 3,483 shares of the company’s stock valued at $127,000 after buying an additional 985 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Inter Parfums by 17.6% in the second quarter. Huntington National Bank now owns 3,569 shares of the company’s stock valued at $131,000 after buying an additional 535 shares in the last quarter. 55.61% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. Citigroup Inc. restated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. BidaskClub upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Zacks Investment Research cut Inter Parfums from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, DA Davidson restated a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.20.
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Shares of Inter Parfums, Inc. (NASDAQ:IPAR) opened at 40.20 on Friday. Inter Parfums, Inc. has a 52-week low of $29.40 and a 52-week high of $41.70. The stock has a market capitalization of $1.25 billion, a PE ratio of 31.16 and a beta of 1.77. The stock has a 50 day moving average price of $38.98 and a 200-day moving average price of $36.84.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $129.10 million during the quarter, compared to analysts’ expectations of $122.57 million. Inter Parfums had a return on equity of 8.12% and a net margin of 7.14%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. On average, equities research analysts anticipate that Inter Parfums, Inc. will post $1.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. Inter Parfums’s dividend payout ratio is currently 52.31%.
In other news, CFO Russell Greenberg sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $39.60, for a total value of $99,000.00. Following the completion of the sale, the chief financial officer now directly owns 5,500 shares of the company’s stock, valued at approximately $217,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 45.40% of the stock is owned by company insiders.
Inter Parfums Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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