Cerity Partners LLC Invests $6.62 Million in Inter Parfums, Inc. (NASDAQ:IPAR)

Cerity Partners LLC purchased a new position in shares of Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,000 shares of the company's stock, valued at approximately $6,624,000. Cerity Partners LLC owned approximately 0.14% of Inter Parfums as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IPAR. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inter Parfums during the fourth quarter worth approximately $27,000. Point72 Middle East FZE purchased a new position in shares of Inter Parfums during the fourth quarter worth approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Inter Parfums during the third quarter worth approximately $55,000. Ronald Blue Trust Inc. raised its stake in shares of Inter Parfums by 112.8% during the third quarter. Ronald Blue Trust Inc. now owns 432 shares of the company's stock worth $58,000 after acquiring an additional 229 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Inter Parfums by 71.5% during the second quarter. Benjamin Edwards Inc. now owns 542 shares of the company's stock worth $73,000 after acquiring an additional 226 shares in the last quarter. 55.57% of the stock is owned by hedge funds and other institutional investors.

Inter Parfums Trading Up 0.1 %

Shares of NASDAQ IPAR traded up $0.16 during mid-day trading on Tuesday, hitting $125.09. The stock had a trading volume of 102,492 shares, compared to its average volume of 138,582. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. Inter Parfums, Inc. has a 1 year low of $120.71 and a 1 year high of $161.17. The business has a 50 day moving average price of $140.55 and a two-hundred day moving average price of $135.74. The firm has a market cap of $4.01 billion, a P/E ratio of 26.33 and a beta of 1.13.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm had revenue of $328.74 million during the quarter, compared to analysts' expectations of $329.00 million. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Inter Parfums, Inc. will post 5.16 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business 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 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, March 14th. Inter Parfums's payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Inter Parfums

In other Inter Parfums news, Director Gilbert Harrison sold 250 shares of the business'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 SEC, which can be accessed 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.