() updated its second quarter earning guidance on Thursday morning. The company gave a guidance for earnings per share of $1.11-1.19, compared with the consensus estimate of $0.99. AptarGroup updated its Q2 guidance for 2023 to $1.11-1.19 EPS.
AptarGroup Price Performance
The stock rose $1.94 to $118.51 during Friday's trading hours. The stock exchanged hands 586,715 times, as opposed to the average of 222671. The company's quick ratio is 1.03, its current ratio is 1.56 and its debt-to equity ratio is 0.51. The last time ) released quarterly earnings was on Friday, 28th April. The industrial products company posted $0.95 in earnings per share for the third quarter, exceeding the consensus estimate by $0.90. The company had revenue of 860.07 millions for the quarter compared with analysts' expectations of $829.95 million. AptarGroup's net margin was 7.20%, and its return on equity was 12.78%. Revenue for the quarter increased by 1.8% when compared with the same period last year. In the same quarter of last year, AptarGroup posted $0.96 in earnings per share. Analysts on the sell-side predict that AptarGroup's earnings per share will be 3.86 for this fiscal year.
AptarGroup Announces Dividend
Recently, the business announced a quarterly distribution that will be paid out on Thursday, 25th May. Dividends will be paid to shareholders who were in the record books on Thursday, 5th May. Dividend yield is 1.28%. This dividend represents an annualized $1.52 dividend. This dividend was ex-dividend on Wednesday, May 3. AptarGroup has a payout ratio of 42.46%.
Wall Street analysts weigh in
Recent reports from several equity research analysts on the stock have been released. In a report published on Thursday 16th March, a research firm began covering shares of AptarGroup. They gave the stock a buy recommendation. Wells Fargo & Company raised their price target for shares of AptarGroup to $132.00 in a research note on February 21st. They also gave the stock a rating of overweight. Bank of America raised their price target for shares of AptarGroup to $152.00 from $132.00 in a Thursday, April 20, 2018 research report. The stock was also given a buy recommendation. In a research report published on February 21st, Deutsche Bank Aktiengesellschaft raised their price target on AptarGroup shares from $125.00 up to $130.00. The stock was given a buy rating. Five analysts gave the stock a buy recommendation, while two investment analysts rated it as a hold. According to data from MarketBeat.com the company has a current consensus rating of Moderate buy and a price target consensus of $129.00.
Insider Buying & Selling
The business sold 64,560 of its shares in a deal dated February 21st. The shares were purchased at a price of $114.04 on average, resulting in a value of $7.362,422.40. After the transaction was completed, the chief executive officer owns 54 044 shares of the company valued at $6 163,177.76. The business sold 64,560 of its shares in a deal dated February 21st. The shares were purchased at an average price $114.04 for a value of $7.362,422.40. After the completion of this transaction, the chief executive officer owns 54 044 shares directly in the company valued at $6 163,177.76. In a deal dated February 21, 1,500 shares were sold. Stock was sold for $114.67 on average, resulting in a $172,005.00 total transaction. After the transaction is complete, the director owns 4,024 of the company's shares, valued at $461.432.08. Insiders own 1.00%.
Hedge Funds weigh in on AptarGroup
Several large investors recently increased or decreased their stakes in this company. Morgan Stanley increased their holdings in AptarGroup in the fourth quarter by 866.4%. Morgan Stanley owns now 3,913,980 of the industrial product company's shares worth $430.460.000 after purchasing an additional 3,508.965 shares. State Street Corp increased their stake in AptarGroup shares by 5.7% during the third quarter. State Street Corp owns now 3,159,250 of the industrial product company's shares worth $300,224,000, after purchasing an additional 171,060 during the last quarter. Norges Bank purchased a stake in AptarGroup worth approximately $59,104,000. Charles Schwab Investment Management Inc. grew its holdings in AptarGroup shares by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. owns 393,890 of the industrial product company's shares worth $43,320,000, after buying an additional 15,442 during the last quarter. Royal Bank of Canada also increased its holdings in AptarGroup shares by 9.6% over the first quarter. Royal Bank of Canada owns 183141 shares of industrial products company stock, valued at $21,518,000. This is after buying an additional 16,005 during the last quarter. Institutional investors own 89.37% the company's stock.
AptarGroup, Inc is engaged in the design, manufacturing, drug delivery, consumer products dispensing, seal and active packaging solutions, as well as services, for the prescription drugs, consumer health care, injections, active packaging, food and beverage, beauty, personal and home care, and the pharmaceutical industries. It operates in three segments: Pharma and Beauty and Home; Food and Beverage.
MarketBeat.com offers a FREE daily email newsletter