AptarGroup (NYSE:ATR) Trading Down 8.9% - Here's Why

Key Points

• AptarGroup's stock declined by 8.9%, closing at $143.09 after trading as low as $143.26, with trading volume up 15% compared to its average.
• AptarGroup has received positive ratings from analysts, with a consensus rating of "Buy" and a target price of $180.60 following multiple upgrades earlier in the year.
• The company reported earnings of $1.66 per share for the last quarter, exceeding estimates, while also announcing a dividend of $0.45 to be paid on August 14th, representing a yield of 1.3%.

AptarGroup, Inc. (NYSE:ATR - Get Free Report) shares were down 8.9% during mid-day trading on Friday . The stock traded as low as $143.26 and last traded at $143.09. Approximately 421,047 shares traded hands during trading, an increase of 15% from the average daily volume of 365,943 shares. The stock had previously closed at $157.14.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ATR shares. Wells Fargo & Company upped their price objective on AptarGroup from $170.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial upped their price objective on AptarGroup from $175.00 to $182.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen raised AptarGroup from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $180.60.

AptarGroup Stock Down 10.2%

The company has a fifty day moving average of $155.76 and a two-hundred day moving average of $151.58. The company has a market cap of $9.32 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.81 and a beta of 0.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.25.

AptarGroup (NYSE:ATR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. AptarGroup had a return on equity of 15.68% and a net margin of 10.84%. The company had revenue of $966.01 million for the quarter, compared to analyst estimates of $954.06 million. During the same quarter in the prior year, the firm posted $1.41 EPS. AptarGroup's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that AptarGroup, Inc. will post 5.57 earnings per share for the current fiscal year.

AptarGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 24th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, July 24th. AptarGroup's dividend payout ratio is 30.98%.

Insider Buying and Selling

In other AptarGroup news, insider Hedi Tlili sold 3,614 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $155.96, for a total value of $563,639.44. Following the transaction, the insider owned 9,379 shares of the company's stock, valued at $1,462,748.84. This represents a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gael Touya sold 3,300 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $152.62, for a total value of $503,646.00. Following the completion of the transaction, the insider directly owned 33,963 shares in the company, valued at $5,183,433.06. This trade represents a 8.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,680 shares of company stock worth $6,983,798 over the last ninety days. Corporate insiders own 0.68% of the company's stock.

Hedge Funds Weigh In On AptarGroup

Several hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of AptarGroup by 33.1% during the 4th quarter. FMR LLC now owns 2,481,563 shares of the industrial products company's stock worth $389,854,000 after buying an additional 617,365 shares in the last quarter. Bank of America Corp DE grew its position in shares of AptarGroup by 297.2% during the 4th quarter. Bank of America Corp DE now owns 473,021 shares of the industrial products company's stock worth $74,312,000 after buying an additional 353,935 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of AptarGroup during the 1st quarter worth $41,728,000. Victory Capital Management Inc. grew its position in shares of AptarGroup by 12.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,219,191 shares of the industrial products company's stock worth $329,284,000 after buying an additional 247,519 shares in the last quarter. Finally, Fiduciary Management Inc. WI grew its position in shares of AptarGroup by 40.8% during the 1st quarter. Fiduciary Management Inc. WI now owns 767,636 shares of the industrial products company's stock worth $113,902,000 after buying an additional 222,577 shares in the last quarter. Institutional investors own 88.52% 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.