Marc Prieur, Segment President at AptarGroup, Inc. (NYSE:ATR), has recently sold 4,000 shares of the company's common stock. The shares were sold at a weighted average price of approximately $168.28, amounting to a total transaction value of $673,136. Following this sale, Prieur retains ownership of 12,616 shares in the company. The sale was executed across multiple transactions, with prices ranging from $168.13 to $168.42 per share.
In other recent news, AptarGroup has been the focus of positive analyst attention. Baird has raised the stock price target for AptarGroup to $185, up from the previous target of $170, while maintaining an Outperform rating. This revised target is based on AptarGroup's potential for high-quality double-digit earnings growth, particularly within the Pharmaceuticals sector, and initiatives to reduce costs in its Packaging (NYSE:PKG) division.
AptarGroup recently reported a 2% core sales growth and a 6% year-over-year increase in adjusted earnings per share (EPS) to $1.49 in Q3. The company's Pharma segment witnessed a 12% core sales growth, mainly due to demand for proprietary drug delivery systems. Aptar also announced the acquisition of SipNose's technology assets to boost its intranasal delivery capabilities, and a significant capacity expansion in New York.
The company's adjusted EBITDA margin reached 36%, and the free cash flow for the first nine months of the year more than doubled to $255 million. The full-year adjusted EPS forecast is expected to be between $5.34 to $5.42. In other developments, CFO Bob announced his retirement, with Vanessa Kanu set to succeed him. These recent developments highlight AptarGroup's robust financial performance and strategic growth initiatives.
InvestingPro Insights
As Marc Prieur's recent stock sale at AptarGroup, Inc. (NYSE:ATR) catches investor attention, it's worth examining some key financial metrics and insights provided by InvestingPro to gain a broader perspective on the company's performance and valuation.
AptarGroup's stock has shown strong momentum, with a 16.06% price total return over the past three months and a 39.73% return over the past year. This performance has pushed the stock to trade near its 52-week high, currently at 98.17% of that peak. The company's market capitalization stands at a robust $11.3 billion, reflecting its significant presence in the packaging industry.
InvestingPro Tips highlight that AptarGroup has raised its dividend for 32 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given that the company operates with a moderate level of debt, suggesting prudent financial management. The current dividend yield is 1.07%, with a dividend growth rate of 9.76% over the last twelve months.
However, investors should note that AptarGroup is trading at a relatively high P/E ratio of 33.94, which may indicate that the stock is priced at a premium compared to its earnings. This valuation metric aligns with another InvestingPro Tip suggesting that the stock is trading at a high earnings multiple.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights, with 11 more tips available for AptarGroup. These additional insights could provide valuable context for understanding the recent insider sale and the company's overall financial health.
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