Interparfums, Inc. (NASDAQ:IPAR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in Interparfums, Inc. (NASDAQ:IPAR) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,226 shares of the company’s stock after selling 830 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Interparfums were worth $595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IPAR. CWM LLC raised its stake in shares of Interparfums by 29.4% in the 1st quarter. CWM LLC now owns 418 shares of the company’s stock valued at $48,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Interparfums by 1.7% in the 4th quarter. Cetera Investment Advisers now owns 5,796 shares of the company’s stock valued at $762,000 after purchasing an additional 96 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Interparfums by 5.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,823 shares of the company’s stock valued at $208,000 after purchasing an additional 98 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Interparfums by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,907 shares of the company’s stock valued at $251,000 after purchasing an additional 121 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC raised its stake in shares of Interparfums by 6.1% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 2,249 shares of the company’s stock valued at $296,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

Interparfums Price Performance

Shares of NASDAQ:IPAR opened at $118.26 on Thursday. Interparfums, Inc. has a fifty-two week low of $97.65 and a fifty-two week high of $148.15. The company has a quick ratio of 1.69, a current ratio of 2.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.80 billion, a PE ratio of 23.70 and a beta of 1.43. The firm has a 50-day simple moving average of $130.27 and a 200 day simple moving average of $126.24.

Interparfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 5th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.11). Interparfums had a return on equity of 16.45% and a net margin of 11.03%. The firm had revenue of $333.94 million during the quarter, compared to the consensus estimate of $357.58 million. During the same quarter last year, the company posted $1.14 EPS. Interparfums’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Interparfums, Inc. will post 5.14 EPS for the current year.

Interparfums Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 2.7%. Interparfums’s dividend payout ratio is 64.13%.

Wall Street Analysts Forecast Growth

IPAR has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $138.00 target price (down previously from $169.00) on shares of Interparfums in a research note on Thursday, April 24th. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Interparfums in a research report on Wednesday, May 7th.

Insider Activity

In other Interparfums news, Director Gilbert Harrison sold 400 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $133.96, for a total value of $53,584.00. Following the completion of the transaction, the director owned 1,550 shares in the company, valued at approximately $207,638. This represents a 20.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Philippe Santi sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $139.23, for a total transaction of $139,230.00. The disclosure for this sale can be found here. 43.70% of the stock is currently owned by corporate insiders.

About Interparfums

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.