AptarGroup (NYSE:ATR) Board of Directors Initiates Share Buyback Plan

AptarGroup (NYSE:ATR) declared that its board has authorized a share buyback program on Thursday, October 10th, RTT News reports. The company plans to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

AptarGroup Stock Up 1.4 %

ATR stock opened at $161.47 on Friday. AptarGroup has a 52 week low of $120.36 and a 52 week high of $161.92. The company has a quick ratio of 0.95, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $152.02 and a 200 day simple moving average of $147.05. The company has a market cap of $10.72 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 3.29 and a beta of 0.58.

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

AptarGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.11%. AptarGroup’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their price objective on shares of AptarGroup from $163.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th.

Insiders Place Their Bets

In other news, insider Xiangwei Gong sold 800 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total value of $117,248.00. Following the completion of the transaction, the insider now owns 20,174 shares of the company’s stock, valued at $2,956,701.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AptarGroup news, Director Monnas Giovanna Kampouri sold 1,922 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $144.43, for a total transaction of $277,594.46. Following the transaction, the director now owns 8,839 shares of the company’s stock, valued at approximately $1,276,616.77. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Xiangwei Gong sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.56, for a total transaction of $117,248.00. Following the completion of the sale, the insider now owns 20,174 shares of the company’s stock, valued at approximately $2,956,701.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,457 shares of company stock worth $7,314,030 in the last ninety days. 1.00% of the stock is owned by company insiders.

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.