AptarGroup (NYSE:ATR) Sees Large Volume Increase Following Earnings Beat

AptarGroup, Inc. (NYSE:ATR) saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 323,073 shares were traded during trading, an increase of 6% from the previous session’s volume of 304,686 shares.The stock last traded at $143.26 and had previously closed at $156.45.

The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.24. AptarGroup had a net margin of 9.40% and a return on equity of 14.92%.

AptarGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 5th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, February 5th. AptarGroup’s dividend payout ratio (DPR) is 36.14%.

AptarGroup declared that its board has approved a share buyback plan on Thursday, October 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of AptarGroup from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Raymond James started coverage on AptarGroup in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $200.00 price target on the stock. Dbs Bank raised AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their target price on AptarGroup from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Bank of America cut AptarGroup from a “buy” rating to a “neutral” rating and set a $173.00 price target for the company. in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $190.60.

Insiders Place Their Bets

In other AptarGroup news, EVP Kimberly Chainey sold 964 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following the sale, the executive vice president now directly owns 7,848 shares in the company, valued at approximately $1,324,977.84. The trade was a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Trading of AptarGroup

Several hedge funds and other institutional investors have recently made changes to their positions in ATR. Capital Performance Advisors LLP acquired a new position in AptarGroup during the third quarter worth about $25,000. UMB Bank n.a. grew its holdings in shares of AptarGroup by 446.5% in the 3rd quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 192 shares during the period. Stonebridge Financial Group LLC purchased a new position in AptarGroup in the 4th quarter valued at approximately $42,000. Huntington National Bank raised its holdings in AptarGroup by 312.0% during the third quarter. Huntington National Bank now owns 342 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 259 shares during the last quarter. Finally, Park Place Capital Corp purchased a new stake in AptarGroup during the fourth quarter worth $67,000. Institutional investors and hedge funds own 88.52% of the company’s stock.

AptarGroup Price Performance

The company has a market cap of $9.68 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 2.59 and a beta of 0.59. The company has a fifty day simple moving average of $160.78 and a two-hundred day simple moving average of $158.90. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

About AptarGroup

AptarGroup, Inc designs and manufactures a range of drug delivery, consumer product dispensing, and active material science solutions and services for the pharmaceutical, beauty, personal care, home care, and food and beverage markets. The company operates through Aptar Pharma, Aptar Beauty, and Aptar Closures segments.