AptarGroup (NYSE:ATR) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of AptarGroup (NYSE:ATR) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat reports. They currently have $173.00 price target on the industrial products company’s stock.

A number of other research firms have also issued reports on ATR. Robert W. Baird increased their target price on AptarGroup from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Wells Fargo & Company increased their price objective on shares of AptarGroup from $168.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group raised shares of AptarGroup from a “hold” rating to a “buy” rating and raised their price target for the company from $155.00 to $215.00 in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $188.25.

AptarGroup Stock Performance

NYSE:ATR opened at $152.76 on Monday. AptarGroup has a twelve month low of $122.37 and a twelve month high of $178.03. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.97 and a beta of 0.59. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $167.20 and its 200 day simple moving average is $156.91.

AptarGroup announced that its board has initiated a stock repurchase plan on Thursday, October 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

AptarGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, October 24th. AptarGroup’s payout ratio is currently 36.14%.

Insider Buying and Selling at AptarGroup

In related news, EVP Kimberly Chainey sold 964 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $168.83, for a total transaction of $162,752.12. Following the sale, the executive vice president now directly owns 7,848 shares of the company’s stock, valued at approximately $1,324,977.84. This represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephan B. Tanda sold 30,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $169.60, for a total value of $5,088,000.00. Following the transaction, the chief executive officer now owns 174,118 shares in the company, valued at $29,530,412.80. This trade represents a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AptarGroup

Institutional investors have recently modified their holdings of the business. Congress Asset Management Co. acquired a new position in AptarGroup in the third quarter valued at approximately $108,239,000. Mawer Investment Management Ltd. raised its position in shares of AptarGroup by 111.0% during the 2nd quarter. Mawer Investment Management Ltd. now owns 1,075,168 shares of the industrial products company’s stock worth $151,394,000 after purchasing an additional 565,511 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of AptarGroup by 29.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,106,885 shares of the industrial products company’s stock worth $337,502,000 after purchasing an additional 479,193 shares during the last quarter. Handelsbanken Fonder AB boosted its position in AptarGroup by 182.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 538,830 shares of the industrial products company’s stock valued at $86,315,000 after purchasing an additional 347,800 shares during the period. Finally, FMR LLC grew its stake in AptarGroup by 13.0% during the 3rd quarter. FMR LLC now owns 1,864,198 shares of the industrial products company’s stock worth $298,626,000 after buying an additional 214,097 shares during the last quarter. Institutional investors own 88.52% of the company’s stock.

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.