Bahl & Gaynor Inc. Sells 17,849 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Bahl & Gaynor Inc. trimmed its holdings in Inter Parfums, Inc. (NASDAQ:IPAR) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 238,175 shares of the company’s stock after selling 17,849 shares during the period. Bahl & Gaynor Inc. owned about 0.74% of Inter Parfums worth $34,300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in IPAR. SG Americas Securities LLC purchased a new stake in shares of Inter Parfums in the third quarter valued at about $1,294,000. Raymond James & Associates raised its holdings in shares of 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 purchasing an additional 2,236 shares during the last quarter. Redwood Investments LLC purchased a new stake in shares of Inter Parfums in the third quarter valued at about $6,865,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 purchasing an additional 478 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of 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 purchasing an additional 200 shares during the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Price Performance

IPAR stock opened at $119.56 on Friday. The firm has a 50 day moving average of $136.61 and a 200-day moving average of $135.31. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a 12 month low of $116.75 and a 12 month high of $158.13. The firm has a market capitalization of $3.83 billion, a P/E ratio of 25.17 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings data 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 net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. During the same quarter last year, the business posted $0.71 earnings per share. Inter Parfums’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Inter Parfums, Inc. will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 2.51%. Inter Parfums’s payout ratio is presently 63.16%.

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,000 shares in the company, valued at $150,420. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 43.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.