AptarGroup (NYSE:ATR) Announces Earnings Results

AptarGroup (NYSE:ATR) released its earnings results on Thursday. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.36 by $0.01, Briefing.com reports. AptarGroup had a return on equity of 15.06% and a net margin of 8.83%. The company had revenue of $910.10 million during the quarter, compared to analysts’ expectations of $930.15 million. During the same period last year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. AptarGroup updated its Q3 2024 guidance to 1.380-1.460 EPS and its Q3 guidance to $1.38-1.46 EPS.

AptarGroup Trading Up 3.6 %

Shares of NYSE:ATR traded up $5.10 during mid-day trading on Friday, reaching $146.59. The stock had a trading volume of 562,787 shares, compared to its average volume of 298,512. The firm has a 50 day simple moving average of $145.07 and a two-hundred day simple moving average of $140.94. AptarGroup has a twelve month low of $118.74 and a twelve month high of $151.73. The firm has a market cap of $9.71 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. The company has a current ratio of 1.30, a quick ratio of 0.89 and a debt-to-equity ratio of 0.29.

AptarGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be given a dividend of $0.45 per share. This is a positive change from AptarGroup’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, July 25th. AptarGroup’s payout ratio is presently 35.19%.

Insider Activity at AptarGroup

In other news, EVP Kimberly Chainey sold 825 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $146.77, for a total value of $121,085.25. Following the completion of the transaction, the executive vice president now owns 8,812 shares of the company’s stock, valued at approximately $1,293,337.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Marc Prieur sold 3,200 shares of AptarGroup stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $148.92, for a total transaction of $476,544.00. Following the transaction, the insider now owns 16,616 shares in the company, valued at approximately $2,474,454.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimberly Chainey sold 825 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $146.77, for a total value of $121,085.25. Following the sale, the executive vice president now directly owns 8,812 shares of the company’s stock, valued at $1,293,337.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,659 shares of company stock worth $1,269,976. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATR. Robert W. Baird upped their target price on shares of AptarGroup from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. William Blair upgraded shares of AptarGroup from a “market perform” rating to an “outperform” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company upped their target price on shares of AptarGroup from $163.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th.

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.