Aptar’s Second Quarter Lives Up to Our Expectations; Maintaining $72 Fair Value Estimate
Stronger-than-expected throughput in Aptar’s Beauty and Home segment helped lift segment operating income to $31 million in the second quarter, up from $27 million in 2015. Margin performance remained strong, as expected, in Aptar’s Pharmaceutical segment while margins fell in Aptar’s smallest segment, Food and Beverage. In addition, management announced a $10 million expansion project for its Congers, New York, facility that will add injectable product capacity for its pharmaceutical segment. W...AptarGroup is a supplier of a range of dispensing, sealing and active packaging solutions for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets. The company's primary products are dispensing pumps, which dispense a spray or lotion from non-pressurized containers; closures, which are plastic caps that allow a product to be dispensed without removing the cap; aerosol valves, which dispense product from pressurized containers; and elastomeric primary packaging components, which include stoppers for infusion, antibiotic, lyophilization and diagnostic vials, pre-filled syringe components, as well as dropper bulbs and syringe plungers.
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