MeadowBrook Investment Advisors LLC Takes Position in Inter Parfums, Inc. (NASDAQ:IPAR)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of Inter Parfums, Inc. (NASDAQ:IPAR) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,425 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors also recently bought and sold shares of IPAR. Raymond James & Associates boosted its stake in Inter Parfums by 2.2% in the third quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock valued at $13,743,000 after acquiring an additional 2,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Inter Parfums by 13.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock valued at $525,000 after acquiring an additional 478 shares in the last quarter. Strs Ohio boosted its stake in Inter Parfums by 2.7% in the third quarter. Strs Ohio now owns 7,600 shares of the company’s stock valued at $1,020,000 after acquiring an additional 200 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Inter Parfums in the third quarter valued at approximately $257,000. Finally, Inspire Advisors LLC purchased a new position in shares of Inter Parfums in the third quarter worth $586,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Stock Up 0.6 %

NASDAQ IPAR traded up $0.68 on Monday, hitting $119.79. 151,278 shares of the stock were exchanged, compared to its average volume of 141,550. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $156.75. The company has a market cap of $3.84 billion, a PE ratio of 25.08 and a beta of 1.19. The company has a 50-day moving average price of $133.17 and a 200-day moving average price of $135.12.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company had revenue of $328.74 million during the quarter, compared to analyst estimates of $329.00 million. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Inter Parfums, Inc. will post 5.15 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is presently 63.16%.

Analyst Ratings Changes

IPAR has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th. Finally, DA Davidson restated a “buy” rating and set a $192.00 price target on shares of Inter Parfums in a research report on Friday, April 26th.

Insiders Place Their Bets

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 43.90% of the stock is currently owned by insiders.

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.