Stock Repurchase Plan Authorized by AptarGroup (NYSE:ATR) Board of Directors

AptarGroup (NYSE:ATR) declared that its Board of Directors has initiated a share buyback program on Thursday, October 10th, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

AptarGroup Trading Down 0.4 %

NYSE ATR opened at $159.13 on Friday. The stock has a market capitalization of $10.54 billion, a P/E ratio of 34.15, a P/E/G ratio of 3.21 and a beta of 0.58. 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 debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.95. AptarGroup has a one year low of $120.36 and a one year high of $161.55.

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

AptarGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.13%. AptarGroup’s dividend payout ratio (DPR) is presently 38.63%.

Wall Street Analyst Weigh In

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

Insider Transactions at AptarGroup

In related news, insider Xiangwei Gong sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total transaction of $117,248.00. Following the transaction, the insider now directly owns 20,174 shares of the company’s stock, valued at approximately $2,956,701.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Stephan B. Tanda sold 32,000 shares of AptarGroup stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $147.56, for a total transaction of $4,721,920.00. Following the completion of the transaction, the chief executive officer now directly owns 174,118 shares in the company, valued at $25,692,852.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Xiangwei Gong sold 800 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was 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 in the company, valued at $2,956,701.44. This represents 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 valued at $7,314,030 in the last 90 days. 1.00% of the stock is currently owned by corporate 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.