WCM Investment Management LLC Grows Position in Inter Parfums, Inc. (NASDAQ:IPAR)

WCM Investment Management LLC raised its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,336 shares of the company's stock after purchasing an additional 17,079 shares during the period. WCM Investment Management LLC owned 0.63% of Inter Parfums worth $29,592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IPAR. JPMorgan Chase & Co. increased its stake in Inter Parfums by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 114,363 shares of the company's stock valued at $10,069,000 after purchasing an additional 16,670 shares in the last quarter. American Century Companies Inc. increased its position in shares of Inter Parfums by 21.1% during the first quarter. American Century Companies Inc. now owns 16,915 shares of the company's stock worth $1,489,000 after acquiring an additional 2,949 shares in the last quarter. Citigroup Inc. increased its position in shares of Inter Parfums by 10.0% during the first quarter. Citigroup Inc. now owns 15,487 shares of the company's stock worth $1,364,000 after acquiring an additional 1,412 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Inter Parfums by 51.4% during the first quarter. MetLife Investment Management LLC now owns 9,932 shares of the company's stock worth $875,000 after acquiring an additional 3,372 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Inter Parfums by 5.0% during the first quarter. Rhumbline Advisers now owns 55,065 shares of the company's stock worth $4,848,000 after acquiring an additional 2,604 shares in the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Stock Down 1.8 %

Inter Parfums stock traded down $2.30 during midday trading on Friday, hitting $126.38. 102,430 shares of the stock were exchanged, compared to its average volume of 162,855. Inter Parfums, Inc. has a 52-week low of $120.71 and a 52-week high of $161.17. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 26.61 and a beta of 1.13. The business's 50-day moving average price is $141.37 and its 200-day moving average price is $135.85. 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 (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $328.74 million for the quarter, compared to analysts' expectations of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, research analysts expect that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.37%. This is a positive change from Inter Parfums's previous quarterly dividend of $0.63. Inter Parfums's payout ratio is 63.16%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their target price on shares of Inter Parfums from $175.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the sale, the director now owns 1,000 shares of the company's stock, valued at $150,420. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 43.90% of the company's stock.

Inter Parfums Company 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.