Metropolitan Life Insurance Co NY lifted its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,748 shares of the company’s stock after acquiring an additional 239 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Inter Parfums were worth $402,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IPAR. Arizona State Retirement System raised its holdings in Inter Parfums by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 26,831 shares of the company’s stock worth $1,784,000 after purchasing an additional 154 shares during the last quarter. Strs Ohio increased its position in Inter Parfums by 7.7% in the 2nd quarter. Strs Ohio now owns 12,600 shares of the company’s stock valued at $837,000 after buying an additional 900 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Inter Parfums by 19.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,620 shares of the company’s stock worth $1,172,000 after acquiring an additional 2,810 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Inter Parfums by 48.1% during the second quarter. First Trust Advisors LP now owns 89,906 shares of the company’s stock valued at $5,978,000 after acquiring an additional 29,215 shares in the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of Inter Parfums by 11.5% in the 2nd quarter. TD Asset Management Inc. now owns 83,200 shares of the company’s stock worth $5,532,000 after purchasing an additional 8,600 shares in the last quarter. Institutional investors own 54.49% of the company’s stock.
In related news, insider Philippe Benacin sold 8,701 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $70.52, for a total value of $613,594.52. Following the sale, the insider now directly owns 3,184 shares in the company, valued at $224,535.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jean Madar sold 1,119 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $71.68, for a total transaction of $80,209.92. Following the completion of the sale, the chief executive officer now directly owns 1,101 shares of the company’s stock, valued at approximately $78,919.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,984 shares of company stock worth $1,554,396. Corporate insiders own 44.60% of the company’s stock.
NASDAQ IPAR opened at $72.61 on Friday. The company has a market capitalization of $2.28 billion, a P/E ratio of 42.46, a P/E/G ratio of 3.00 and a beta of 0.86. Inter Parfums, Inc. has a 52-week low of $58.50 and a 52-week high of $81.40. The company has a fifty day moving average of $72.48 and a 200-day moving average of $69.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.24 and a current ratio of 3.24.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, November 5th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Inter Parfums had a return on equity of 10.15% and a net margin of 8.43%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $191.18 million. During the same quarter in the previous year, the business earned $0.60 EPS. Inter Parfums’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Inter Parfums, Inc. will post 1.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.33 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 30th. This represents a $1.32 dividend on an annualized basis and a yield of 1.82%. Inter Parfums’s dividend payout ratio is presently 64.33%.
A number of brokerages have recently issued reports on IPAR. BidaskClub upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Zacks Investment Research lowered shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, DA Davidson decreased their price objective on shares of Inter Parfums from $82.00 to $76.00 and set a “neutral” rating for the company in a research note on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $75.80.
Inter Parfums Company Profile
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. 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, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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