Congress Asset Management Co. Invests $108.24 Million in AptarGroup, Inc. (NYSE:ATR)

Congress Asset Management Co. purchased a new stake in AptarGroup, Inc. (NYSE:ATR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 675,694 shares of the industrial products company’s stock, valued at approximately $108,239,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. lifted its holdings in shares of AptarGroup by 111.0% in the second quarter. Mawer Investment Management Ltd. now owns 1,075,168 shares of the industrial products company’s stock valued at $151,394,000 after purchasing an additional 565,511 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in AptarGroup by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 953,950 shares of the industrial products company’s stock valued at $152,813,000 after acquiring an additional 17,975 shares in the last quarter. American Century Companies Inc. lifted its position in shares of AptarGroup by 35.9% in the second quarter. American Century Companies Inc. now owns 805,301 shares of the industrial products company’s stock worth $113,395,000 after purchasing an additional 212,886 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AptarGroup by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,617 shares of the industrial products company’s stock worth $100,917,000 after purchasing an additional 64,288 shares during the period. Finally, Bank of New York Mellon Corp grew its position in AptarGroup by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 646,912 shares of the industrial products company’s stock valued at $91,092,000 after purchasing an additional 12,533 shares in the last quarter. Institutional investors and hedge funds own 88.52% of the company’s stock.

AptarGroup Trading Up 0.0 %

NYSE ATR traded up $0.01 on Thursday, reaching $169.04. The company had a trading volume of 47,599 shares, compared to its average volume of 291,956. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 36.27, a P/E/G ratio of 3.29 and a beta of 0.58. AptarGroup, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $171.41. The business has a 50 day moving average of $158.18 and a two-hundred day moving average of $149.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.95.

AptarGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 24th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, October 24th. AptarGroup’s dividend payout ratio is currently 38.63%.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at AptarGroup

In related news, insider Xiangwei Gong sold 800 shares of AptarGroup stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $146.56, for a total transaction of $117,248.00. Following the completion of the transaction, the insider now owns 20,174 shares of the company’s stock, valued at $2,956,701.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AptarGroup news, insider Xiangwei Gong sold 800 shares of AptarGroup stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total value of $117,248.00. Following the completion of the sale, the insider now directly owns 20,174 shares in the company, valued at approximately $2,956,701.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Monnas Giovanna Kampouri sold 1,922 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $144.43, for a total value of $277,594.46. Following the transaction, the director now owns 8,839 shares in the company, valued at $1,276,616.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,457 shares of company stock worth $7,680,110 over the last ninety days. Insiders own 1.00% of the company’s stock.

AptarGroup Company Profile

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.