AptarGroup, Inc. (ATR) To Go Ex-Dividend on October 24th

AptarGroup, Inc. (NYSE:ATR) declared a quarterly dividend on Thursday, October 10th, RTT News reports. Investors of record on Thursday, October 24th will be paid a dividend of 0.45 per share by the industrial products company on Thursday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, October 24th.

AptarGroup has increased its dividend by an average of 3.1% per year over the last three years and has raised its dividend every year for the last 31 years. AptarGroup has a dividend payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AptarGroup to earn $6.01 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 30.0%.

AptarGroup Stock Performance

Shares of ATR stock opened at $166.33 on Tuesday. AptarGroup has a 12-month low of $120.36 and a 12-month high of $169.65. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 3.29 and a beta of 0.58. The business has a 50 day simple moving average of $155.19 and a 200 day simple moving average of $148.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.95.

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

AptarGroup announced that its board has authorized a share repurchase program on Thursday, October 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and upped their target price for the stock from $155.00 to $215.00 in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Dbs Bank upgraded AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AptarGroup has an average rating of “Buy” and an average target price of $190.00.

Insider Activity

In other news, CFO Robert Kuhn sold 200 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $150.18, for a total transaction of $30,036.00. Following the completion of the sale, the chief financial officer now owns 65,552 shares in the company, valued at approximately $9,844,599.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Robert Kuhn sold 200 shares of the stock in a transaction 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 sale, the chief financial officer now owns 65,552 shares in the company, valued at $9,844,599.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hedi Tlili sold 1,375 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $152.54, for a total value of $209,742.50. Following the completion of the sale, the insider now owns 9,379 shares of the company’s stock, valued at $1,430,672.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,457 shares of company stock worth $7,314,030. 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.