AptarGroup (NYSE:ATR) Board Initiates Share Buyback Program

AptarGroup (NYSE:ATR) announced that its board has approved a stock repurchase plan on Thursday, October 10th, RTT News reports. The company plans to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their price target on shares of AptarGroup from $163.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th.

AptarGroup Price Performance

Shares of ATR stock opened at $161.55 on Friday. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 3.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.36. The stock’s 50-day simple moving average is $152.34 and its 200-day simple moving average is $147.18. AptarGroup has a fifty-two week low of $120.36 and a fifty-two week high of $161.92.

AptarGroup (NYSE:ATR) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.36 by $0.01. The business had revenue of $910.10 million during the quarter, compared to the consensus estimate of $930.15 million. AptarGroup had a net margin of 9.00% and a return on equity of 15.13%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that AptarGroup will post 5.36 earnings per share for the current fiscal year.

AptarGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, October 24th. AptarGroup’s dividend payout ratio is presently 38.63%.

Insider Buying and Selling at AptarGroup

In other AptarGroup news, CFO Robert Kuhn sold 200 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $150.18, for a total value of $30,036.00. Following the completion of the transaction, the chief financial officer now directly owns 65,552 shares of the company’s stock, valued at approximately $9,844,599.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Robert Kuhn sold 200 shares of AptarGroup stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $150.18, for a total value of $30,036.00. Following the sale, the chief financial officer now owns 65,552 shares of the company’s stock, valued at approximately $9,844,599.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Monnas Giovanna Kampouri sold 1,922 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $144.43, for a total transaction of $277,594.46. Following the transaction, the director now owns 8,839 shares of the company’s stock, valued at approximately $1,276,616.77. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,457 shares of company stock worth $7,314,030. Company insiders own 1.00% of the company’s stock.

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.