Trade Report: The Ameriprise Financial Inc. reaches $6,958,000 position of Inter Parfums Inc. (IPAR)

The Ameriprise Financial Inc. reaches $6,958,000 position  of Inter Parfums Inc. (IPAR)

Ameriprise Financial Inc. reduced its position in shares of Inter Parfums Inc. (NASDAQ:IPAR) by 14.1% during the second quarter, Holdings Channel reports. The firm owned 243,558 shares of the company’s stock after selling 40,119 shares during the period. Ameriprise Financial Inc. owned about 0.78% of Inter Parfums worth $6,958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IPAR. Royce & Associates LP raised its position in Inter Parfums by 5.5% in the second quarter. Royce & Associates LP now owns 537,830 shares of the company’s stock worth $15,366,000 after buying an additional 28,200 shares during the period. Suntrust Banks Inc. raised its position in Inter Parfums by 10.0% in the second quarter. Suntrust Banks Inc. now owns 42,946 shares of the company’s stock worth $1,226,000 after buying an additional 3,915 shares during the period. California State Teachers Retirement System raised its position in Inter Parfums by 1.9% in the second quarter. California State Teachers Retirement System now owns 36,637 shares of the company’s stock worth $1,047,000 after buying an additional 689 shares during the period. Huntington National Bank raised its position in Inter Parfums by 5.6% in the second quarter. Huntington National Bank now owns 4,679 shares of the company’s stock worth $134,000 after buying an additional 249 shares during the period. Finally, Strs Ohio raised its position in Inter Parfums by 7.0% in the second quarter. Strs Ohio now owns 24,400 shares of the company’s stock worth $697,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 54.37% of the company’s stock.

Inter Parfums Inc. (NASDAQ:IPAR) traded down 0.93% on Friday, hitting $33.12. The stock had a trading volume of 105,324 shares. Inter Parfums Inc. has a one year low of $20.37 and a one year high of $35.07. The stock has a 50-day moving average of $32.96 and a 200-day moving average of $31.01. The company has a market cap of $1.03 billion, a PE ratio of 35.23 and a beta of 1.68.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Inter Parfums had a return on equity of 6.27% and a net margin of 6.02%. The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $116.16 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts expect that Inter Parfums Inc. will post $1.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, September 28th. Inter Parfums’s dividend payout ratio is presently 63.16%.

Several brokerages have commented on IPAR. B. Riley restated a “buy” rating and set a $40.00 target price on shares of Inter Parfums in a research report on Tuesday, September 20th. Brean Capital boosted their target price on shares of Inter Parfums from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Piper Jaffray Cos. restated a “neutral” rating and set a $33.00 target price (up from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. TheStreet upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Finally, Citigroup Inc. boosted their target price on shares of Inter Parfums from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.71.

In other news, insider Henry B. Clarke sold 5,582 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.50, for a total value of $192,579.00. Following the completion of the transaction, the insider now owns 2,707 shares of the company’s stock, valued at $93,391.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Russell Greenberg sold 12,323 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.62, for a total value of $426,622.26. Following the completion of the transaction, the chief financial officer now directly owns 3,000 shares of the company’s stock, valued at approximately $103,860. The disclosure for this sale can be found here. 45.50% of the stock is owned by company insiders.

Inter Parfums Company Profile

Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.

Related posts

Leave a Comment