Huntington National Bank increased its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,569 shares of the company’s stock after buying an additional 535 shares during the period. Huntington National Bank’s holdings in Inter Parfums were worth $131,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Inter Parfums during the fourth quarter valued at approximately $736,000. State Street Corp raised its position in shares of Inter Parfums by 8.4% in the fourth quarter. State Street Corp now owns 372,497 shares of the company’s stock valued at $12,198,000 after buying an additional 28,922 shares during the period. AQR Capital Management LLC raised its position in shares of Inter Parfums by 0.5% in the fourth quarter. AQR Capital Management LLC now owns 8,265 shares of the company’s stock valued at $271,000 after buying an additional 42 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Inter Parfums by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,300 shares of the company’s stock valued at $305,000 after buying an additional 540 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Inter Parfums by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 28,027 shares of the company’s stock valued at $918,000 after buying an additional 734 shares during the period. 54.20% of the stock is owned by hedge funds and other institutional investors.
Inter Parfums, Inc. (NASDAQ:IPAR) traded down 1.94% during midday trading on Wednesday, reaching $37.90. 34,114 shares of the company’s stock traded hands. The company’s 50-day moving average price is $36.79 and its 200 day moving average price is $35.72. 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 $1.18 billion, a price-to-earnings ratio of 30.08 and a beta of 1.77.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, May 9th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $143.10 million for the quarter, compared to the consensus estimate of $120.05 million. Inter Parfums had a net margin of 7.12% and a return on equity of 8.10%. Inter Parfums’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the company posted $0.24 earnings per share. On average, equities research analysts expect that Inter Parfums, Inc. will post $1.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.17 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. Inter Parfums’s payout ratio is 53.54%.
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IPAR has been the subject of several research reports. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, May 1st. DA Davidson reiterated a “buy” rating and set a $44.00 price objective on shares of Inter Parfums in a research note on Monday, May 8th. Jefferies Group LLC initiated coverage on shares of Inter Parfums in a research note on Friday, June 2nd. They set a “hold” rating and a $35.00 price objective for the company. Finally, BidaskClub upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a hold rating, six 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 target price of $39.57.
About Inter Parfums
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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