On September 14, 2023, financial institution ProShare Advisors LLC revealed a decrease in its stake in AptarGroup, Inc. (NYSE:ATR) during the first quarter of the year. According to its recent filing with the Securities & Exchange Commission, ProShare Advisors LLC reduced its position in shares of AptarGroup by 9.2%. As a result of this move, the fund now owns 306,319 shares of the industrial products company’s stock after selling 30,914 shares.
At the end of the most recent reporting period, ProShare Advisors LLC’s ownership stake in AptarGroup was valued at $36,204,000. Although this represents a reduction in their holdings, it is important to note that ProShare Advisors LLC still retains approximately 0.47% ownership of AptarGroup.
Additionally, AptarGroup recently announced a quarterly dividend on Thursday, August 17th. Shareholders who were on record as of Thursday, July 27th received a $0.41 dividend from the company. The ex-dividend date for this payment was Wednesday, July 26th. It is worth noting that this increase represents positive news for investors as it demonstrates an upward revision from AptarGroup’s previous quarterly dividend amounting to $0.38.
Currently sustaining a dividend payout ratio of approximately 43.62%, AptarGroup offers an annualized dividend of $1.64 with a corresponding dividend yield of 1.31%. These figures indicate that shareholders can expect to receive positive returns on their investment in the form of dividends.
Overall, these developments highlight both ProShare Advisors LLC’s modification in shares and AptarGroup’s adjustment to its dividend policy. Investors may find these updates significant when assessing future prospects and potential profitability associated with investing in AptarGroup.
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Investment Surge and Positive Outlook for AptarGroup in Industrial Products Industry
September 14, 2023 – AptarGroup, a prominent industrial products company, has recently caught the attention of various hedge funds and institutional investors. Pictet Asset Management SA, for instance, has increased its holdings in AptarGroup by 6.0% during the first quarter. With an additional 439 shares purchased during this period, Pictet Asset Management SA now owns 7,783 shares worth $920,000.
Similarly, Machina Capital S.A.S. entered the fray and acquired a new position in AptarGroup during the first quarter. Their investment amounted to roughly $31,000. Meanwhile, Hall Laurie J Trustee also significantly lifted its holdings in AptarGroup by 1.3% during the same period. With an additional 310 shares purchased, their ownership now amounts to 24,365 shares valued at $2,881,000.
Further increasing their stake in the company is Toronto Dominion Bank who boosted their holdings by 1.8% in the first quarter. The bank now owns 5,003 shares worth $591,000 after purchasing an additional 87 shares.
Crawford Investment Counsel Inc., on the other hand, took a much bolder approach as they lifted their holdings by a staggering 1,822.5%. Their ownership of AptarGroup skyrocketed to approximately 89,437 shares with a total value of $10,571 million after acquiring an additional outstanding amount of stocks – specifically around 84,785 shares.
It is noteworthy that these institutional investors collectively own a significant portion of AptarGroup’s stock with a notable percentage standing at about 88.61%.
Several research analysts have also expressed their opinion on AptarGroup’s performance as well as provided valuable insights through comprehensive reports. A research note from Bank of America stated that they lowered AptarGroup’s price objective from $152.00 to $149.00, while Wells Fargo & Company increased their price objective from $140.00 to $152.00 and gave the company an “overweight” rating in their research note.
Moreover, StockNews.com issued a “buy” rating on the stock in their research note published on Thursday, August 17th. With two analysts giving it a hold rating and five others endorsing a buy rating, AptarGroup currently has a consensus rating of “Moderate Buy.” According to data from Bloomberg, the stock has a consensus price target of $134.17.
On September 14th, AptarGroup’s stock opened at $125.41. Its 50-day simple moving average stands at $122.69 with its 200-day simple moving average settling at $118.66.
In terms of performance, AptarGroup has undergone fluctuation as it reached its fifty-two week low of $90.23 and touched its highest peak at $133.79.
The company maintains a conservative debt-to-equity ratio of 0.43 highlighting its stable financial posture despite external market uncertainties. It also boasts favorable liquidity ratios with a quick ratio of 0.97 and a current ratio of 1.47.
With a market capitalization amounting to approximately $8.23 billion and a P/E ratio standing at 33.35, investors see potential in AptarGroup’s future growth prospects as reflected in its price-to-earnings-growth ratio of 3.94 and beta value of 0.61.
AptarGroup recently released its quarterly earnings report on Friday, July 28th, stunning analysts by reporting an earnings per share (EPS) of $1.23 for the quarter – surpassing estimates by $0.10 per share which was pegged at $1.13 by industry experts.
Revenue during this period also impressed as it reached $895.91 million compared to earlier market projections of $898.89 million. Moreover, AptarGroup showcased a 6.1% year-over-year increase in revenue for the quarter.
The company’s net margin stands at 7.41% with a return on equity of 13.04%, both indicators pointing towards a solid financial performance.
Analysts have high expectations for AptarGroup’s future earnings, projecting an average EPS of 4.55 for the current fiscal year.
Overall, AptarGroup’s recent developments and financial standing have attracted the attention and investment from various hedge funds and institutional investors. With positive ratings from research analysts and optimistic projections for its future earnings, the company seems poised to continue its growth trajectory in the industrial products industry.
