AptarGroup (NYSE:ATR) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of AptarGroup, Inc. (NYSE:ATR) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 323,073 shares changed hands 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 EPS for the quarter, topping the consensus estimate of $1.28 by $0.24. AptarGroup had a return on equity of 14.92% and a net margin of 9.40%.

AptarGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. AptarGroup’s payout ratio is 36.14%.

AptarGroup declared that its Board of Directors has approved a share buyback plan on Thursday, October 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 4.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Dbs Bank upgraded shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Bank of America downgraded shares of AptarGroup from a “buy” rating to a “neutral” rating and set a $173.00 price objective for the company. in a research note on Monday, January 6th. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and increased their price target for the stock from $155.00 to $215.00 in a report on Monday, October 14th. Wells Fargo & Company dropped their price objective on AptarGroup from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Raymond James assumed coverage on AptarGroup in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $200.00 target price on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AptarGroup currently has a consensus rating of “Buy” and an average price target of $190.60.

Insider Activity

In related news, EVP Kimberly Chainey sold 964 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $168.83, for a total value of $162,752.12. Following the completion of the transaction, the executive vice president now directly owns 7,848 shares of the company’s stock, valued at approximately $1,324,977.84. This represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On AptarGroup

A number of hedge funds have recently modified their holdings of ATR. State Street Corp lifted its stake in shares of AptarGroup by 0.5% in the 3rd quarter. State Street Corp now owns 2,889,811 shares of the industrial products company’s stock valued at $462,919,000 after purchasing an additional 14,001 shares during the last quarter. Victory Capital Management Inc. lifted its position in AptarGroup by 29.4% in the third quarter. Victory Capital Management Inc. now owns 2,106,885 shares of the industrial products company’s stock valued at $337,502,000 after buying an additional 479,193 shares during the last quarter. FMR LLC boosted its stake in AptarGroup by 13.0% during the third quarter. FMR LLC now owns 1,864,198 shares of the industrial products company’s stock worth $298,626,000 after buying an additional 214,097 shares during the period. Geode Capital Management LLC increased its position in shares of AptarGroup by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,515,288 shares of the industrial products company’s stock valued at $245,444,000 after acquiring an additional 83,452 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its stake in shares of AptarGroup by 7.7% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,158,102 shares of the industrial products company’s stock valued at $185,516,000 after acquiring an additional 82,934 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.

AptarGroup Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The stock has a market capitalization 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 firm’s fifty day moving average price is $160.78 and its 200 day moving average price is $158.90.

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.