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

Key Points

• AptarGroup shares hit a 52-week high, trading as high as $146.91, up from the previous close of $142.31.
• The company beat quarterly earnings and revenue estimates: EPS was $1.52 versus $1.47 expected, while revenue reached $1.02 billion and grew 6% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $164.14; AptarGroup also raised its quarterly dividend from $0.48 to $0.50 per share.

Shares of AptarGroup, Inc. (NYSE:ATR - Get Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.