Kimberly Chainey, Executive Vice President and Chief Legal Officer of AptarGroup, Inc. (NYSE:ATR), has sold 964 shares of common stock, according to a recent SEC filing. The shares were sold at a weighted average price of $168.83, amounting to a total transaction value of $162,752. Following this sale, Chainey retains ownership of 7,848 shares in the company. The transaction was executed on November 15, 2024, with the sale price ranging from $168.77 to $168.96 per share.
In other recent news, AptarGroup has been the subject of positive attention from Baird, which has increased the company's stock price target to $185 from $170, maintaining an Outperform rating. Baird's optimism stems from AptarGroup's potential for growth in the Pharmaceuticals sector and cost reduction initiatives in its Packaging (NYSE:PKG) division. The firm also noted AptarGroup's options for capital allocation, including potential share buybacks.
AptarGroup recently reported a promising third-quarter performance, with a 2% core sales growth and a 6% year-over-year increase in adjusted earnings per share (EPS) to $1.49. The company's Pharma segment showed strength, witnessing a 12% core sales growth, primarily due to demand for proprietary drug delivery systems. AptarGroup also announced the acquisition of SipNose's technology assets, enhancing its intranasal delivery capabilities, and a significant capacity expansion in New York.
In terms of earnings, the company's adjusted EBITDA margin reached 36%, and the free cash flow for the first nine months of 2024 more than doubled to $255 million. The full-year adjusted EPS forecast is expected to be between $5.34 to $5.42. Other recent developments include the retirement of CFO Bob, with Vanessa Kanu set to take over his position.
InvestingPro Insights
AptarGroup, Inc. (NYSE:ATR) has been demonstrating strong financial performance and market positioning, as evidenced by recent InvestingPro data. The company's market capitalization stands at $11.12 billion, reflecting its substantial presence in the packaging industry. With a P/E ratio of 33.07, ATR is trading at a premium compared to many of its peers, suggesting investor confidence in its future earnings potential.
InvestingPro Tips highlight that AptarGroup has raised its dividend for 32 consecutive years, a testament to its financial stability and commitment to shareholder returns. This impressive track record is further supported by the company's current dividend yield of 1.08% and a notable dividend growth of 9.76% over the last twelve months.
The company's stock performance has been robust, with a year-to-date price total return of 36.28% and a one-year return of 31.92%. These figures indicate significant outperformance compared to broader market indices. Additionally, ATR is trading near its 52-week high, with its current price at 93.52% of the peak, suggesting strong investor sentiment.
While the recent insider sale by Kimberly Chainey may raise questions, it's important to note that InvestingPro Tips also indicate that the stock generally trades with low price volatility. This characteristic, combined with the company's consistent dividend history and profitability over the last twelve months, may provide some reassurance to investors.
For those seeking a deeper understanding of AptarGroup's financial health and market position, InvestingPro offers 12 additional tips, providing a comprehensive analysis to inform investment decisions.
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