AptarGroup (NYSE:ATR) Reaches New 52-Week High – Here’s Why

Shares of AptarGroup, Inc. (NYSE:ATR) reached a new 52-week high on Wednesday. The company traded as high as $146.91 and last traded at $146.4160, with a volume of 100,083 shares trading hands. The stock had previously closed at $142.31.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ATR shares. Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective on shares of AptarGroup in a research note on Wednesday, July 15th. Bank of America reissued a “buy” rating on shares of AptarGroup in a research note on Monday. Wells Fargo & Company raised their price target on AptarGroup from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AptarGroup in a research report on Monday, September 21st. Finally, UBS Group assumed coverage on AptarGroup in a research report on Friday, October 9th. They issued a “neutral” rating and a $135.00 price target for the company. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.14.

AptarGroup Trading Up 1.9%

The stock has a 50-day simple moving average of $126.22 and a two-hundred day simple moving average of $127.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.50. The firm has a market cap of $9.19 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 4.45 and a beta of 0.33.

AptarGroup (NYSE:ATR) last posted its earnings results on Thursday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. AptarGroup had a net margin of 6.69% and a return on equity of 13.11%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $980.76 million. During the same quarter in the prior year, the business earned $1.62 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AptarGroup, Inc. will post 5.48 EPS for the current year.

AptarGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is a positive change from AptarGroup’s previous quarterly dividend of $0.48. AptarGroup’s payout ratio is currently 46.60%.

Insiders Place Their Bets

In related news, CEO Gael Touya sold 3,740 shares of AptarGroup stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $133.76, for a total value of $500,262.40. Following the completion of the sale, the chief executive officer owned 29,102 shares of the company’s stock, valued at $3,892,683.52. The trade was a 11.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shiela Vinczeller sold 765 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $130.37, for a total value of $99,733.05. Following the sale, the insider owned 26,313 shares of the company’s stock, valued at approximately $3,430,425.81. This trade represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On AptarGroup

Large investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in AptarGroup in the 2nd quarter worth $990,000. California State Teachers Retirement System grew its position in shares of AptarGroup by 24.4% during the first quarter. California State Teachers Retirement System now owns 77,227 shares of the industrial products company’s stock valued at $9,732,000 after purchasing an additional 15,158 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of AptarGroup by 7.2% in the first quarter. Bank of America Corp DE now owns 485,718 shares of the industrial products company’s stock worth $61,210,000 after purchasing an additional 32,420 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of AptarGroup by 42.6% in the first quarter. First Trust Advisors LP now owns 538,554 shares of the industrial products company’s stock worth $67,868,000 after purchasing an additional 160,763 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of AptarGroup in the first quarter worth about $505,000. 88.52% of the stock is currently owned by institutional investors.

AptarGroup Company Profile

AptarGroup, Inc (NYSE: ATR) develops and manufactures dispensing, sealing and delivery systems for the pharmaceutical, beauty, personal care, food and beverage markets. Its products are designed to control, protect and dispense a wide range of liquids, creams, lotions, fragrances and other formulations.

The company’s offerings include pumps, valves, closures, aerosol systems and other dispensing components, as well as drug-delivery technologies. Through its pharmaceutical business, Aptar supports nasal, pulmonary, ophthalmic, dermal and injectable applications, serving pharmaceutical and biotechnology companies with components and systems used in prescription, over-the-counter and consumer health products.

Aptar serves customers internationally through manufacturing, research and development and commercial operations across North America, Europe, Asia and other global markets.