Hemenway Trust Co LLC Increases Stock Position in AptarGroup, Inc. (NYSE:ATR)

Hemenway Trust Co LLC raised its position in AptarGroup, Inc. (NYSE:ATR) by 0.8% during the third quarter, Holdings Channel.com reports. The fund owned 233,558 shares of the industrial products company’s stock after purchasing an additional 1,877 shares during the quarter. AptarGroup accounts for approximately 3.0% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 15th largest position. Hemenway Trust Co LLC’s holdings in AptarGroup were worth $37,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of AptarGroup by 51.4% during the first quarter. BNP Paribas Financial Markets now owns 19,543 shares of the industrial products company’s stock valued at $2,812,000 after acquiring an additional 6,633 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of AptarGroup by 24.7% during the 1st quarter. Quantbot Technologies LP now owns 4,312 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 853 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of AptarGroup during the first quarter valued at about $215,000. Illinois Municipal Retirement Fund increased its position in shares of AptarGroup by 77.6% during the first quarter. Illinois Municipal Retirement Fund now owns 9,617 shares of the industrial products company’s stock valued at $1,384,000 after buying an additional 4,201 shares during the period. Finally, Swiss National Bank lifted its holdings in AptarGroup by 0.4% in the first quarter. Swiss National Bank now owns 129,800 shares of the industrial products company’s stock worth $18,677,000 after buying an additional 500 shares during the period. 88.52% of the stock is owned by institutional investors.

AptarGroup Stock Performance

NYSE ATR traded up $0.37 during trading hours on Tuesday, hitting $176.52. The company’s stock had a trading volume of 5,899 shares, compared to its average volume of 291,230. AptarGroup, Inc. has a 12 month low of $122.29 and a 12 month high of $178.03. The company’s 50 day simple moving average is $161.48 and its two-hundred day simple moving average is $151.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.15. The company has a market cap of $11.75 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 3.02 and a beta of 0.57.

AptarGroup declared that its board has authorized a share repurchase program on Thursday, October 10th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

AptarGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.80 annualized dividend and a dividend yield of 1.02%. AptarGroup’s payout ratio is 36.14%.

Insider Transactions at AptarGroup

In related news, CEO Stephan B. Tanda sold 30,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $169.60, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer now owns 174,118 shares in the company, valued at approximately $29,530,412.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Xiangwei Gong sold 7,200 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.52, for a total value of $1,054,944.00. Following the completion of the sale, the insider now directly owns 12,974 shares of the company’s stock, valued at $1,900,950.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephan B. Tanda sold 30,000 shares of AptarGroup stock in a transaction on Monday, October 28th. The shares were sold at an average price of $169.60, for a total transaction of $5,088,000.00. Following the transaction, the chief executive officer now owns 174,118 shares in the company, valued at approximately $29,530,412.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,735 shares of company stock worth $7,285,268 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ATR shares. Wells Fargo & Company upped their target price on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Robert W. Baird raised their price objective on AptarGroup from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Jefferies Financial Group raised shares of AptarGroup from a “hold” rating to a “buy” rating and upped their target price for the stock from $155.00 to $215.00 in a research report on Monday, October 14th. Finally, Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $195.00.

About AptarGroup

AptarGroup, Inc designs and manufactures a range of drug delivery, consumer product dispensing, and active material science solutions and services for the pharmaceutical, beauty, personal care, home care, and food and beverage markets. The company operates through Aptar Pharma, Aptar Beauty, and Aptar Closures segments.