AptarGroup (NYSE:ATR) Issues Earnings Results, Beats Estimates By $0.01 EPS

AptarGroup (NYSE:ATR) issued its earnings results on Thursday. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01, Briefing.com reports. AptarGroup had a net margin of 8.83% and a return on equity of 15.06%. The company had revenue of $910.10 million for the quarter, compared to analysts’ expectations of $930.15 million. During the same period in the prior year, the firm earned $1.23 EPS. AptarGroup’s quarterly revenue was up 1.6% compared to the same quarter last year. AptarGroup updated its Q3 2024 guidance to 1.380-1.460 EPS and its Q3 guidance to $1.38-1.46 EPS.

AptarGroup Price Performance

Shares of NYSE ATR traded up $5.10 during trading hours on Friday, hitting $146.59. 562,787 shares of the stock were exchanged, compared to its average volume of 298,512. The company’s fifty day simple moving average is $145.07 and its two-hundred day simple moving average is $140.94. The company has a market cap of $9.71 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 3.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.89 and a current ratio of 1.30. AptarGroup has a 1-year low of $118.74 and a 1-year high of $151.73.

AptarGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a $0.45 dividend. This is a positive change from AptarGroup’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, July 25th. AptarGroup’s dividend payout ratio (DPR) is currently 35.19%.

Analysts Set New Price Targets

ATR has been the subject of a number of research analyst reports. William Blair raised shares of AptarGroup from a “market perform” rating to an “outperform” rating in a research report on Monday, April 29th. Robert W. Baird lifted their target price on shares of AptarGroup from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company increased 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.

Insiders Place Their Bets

In other news, EVP Kimberly Chainey sold 825 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $146.77, for a total transaction of $121,085.25. Following the sale, the executive vice president now directly owns 8,812 shares in the company, valued at $1,293,337.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Kimberly Chainey sold 825 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $146.77, for a total value of $121,085.25. Following the sale, the executive vice president now owns 8,812 shares of the company’s stock, valued at $1,293,337.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marc Prieur sold 3,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $148.92, for a total value of $476,544.00. Following the transaction, the insider now directly owns 16,616 shares of the company’s stock, valued at $2,474,454.72. The disclosure for this sale can be found here. Insiders sold 8,659 shares of company stock worth $1,269,976 over the last three months. Insiders own 1.00% of the company’s stock.

AptarGroup Company Profile

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.