Brown Brothers Harriman & Co. Acquires 76,620 Shares of AptarGroup, Inc. (NYSE:ATR)

Brown Brothers Harriman & Co. grew its stake in AptarGroup, Inc. (NYSE:ATR) by 39.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,587 shares of the industrial products company’s stock after buying an additional 76,620 shares during the quarter. Brown Brothers Harriman & Co. owned approximately 0.41% of AptarGroup worth $43,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Family Office LLC lifted its stake in AptarGroup by 0.3% in the 3rd quarter. Boston Family Office LLC now owns 174,571 shares of the industrial products company’s stock worth $27,965,000 after purchasing an additional 485 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of AptarGroup by 11.0% during the third quarter. Fisher Asset Management LLC now owns 31,275 shares of the industrial products company’s stock worth $5,010,000 after purchasing an additional 3,102 shares during the last quarter. Algert Global LLC boosted its position in AptarGroup by 91.6% in the 3rd quarter. Algert Global LLC now owns 44,354 shares of the industrial products company’s stock valued at $7,105,000 after buying an additional 21,200 shares during the period. Cerity Partners LLC grew its stake in AptarGroup by 21.9% in the third quarter. Cerity Partners LLC now owns 23,257 shares of the industrial products company’s stock worth $3,726,000 after purchasing an additional 4,184 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of AptarGroup by 16.2% during the 3rd quarter. Citigroup Inc. now owns 36,229 shares of the industrial products company’s stock worth $5,804,000 after buying an additional 5,060 shares in the last quarter. Institutional investors own 88.52% of the company’s stock.

AptarGroup Stock Up 1.0 %

NYSE ATR opened at $171.51 on Monday. The business has a fifty day moving average price of $164.95 and a 200 day moving average price of $153.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.62. The company has a market cap of $11.41 billion, a P/E ratio of 34.44, a P/E/G ratio of 2.95 and a beta of 0.57. AptarGroup, Inc. has a one year low of $122.29 and a one year high of $178.03.

AptarGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, October 24th. AptarGroup’s dividend payout ratio (DPR) is 36.14%.

AptarGroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 10th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 4.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at AptarGroup

In other AptarGroup news, EVP Kimberly Chainey sold 964 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $168.83, for a total value of $162,752.12. Following the transaction, the executive vice president now directly owns 7,848 shares of the company’s stock, valued at $1,324,977.84. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hedi Tlili sold 1,375 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $152.54, for a total value of $209,742.50. Following the completion of the sale, the insider now owns 9,379 shares of the company’s stock, valued at $1,430,672.66. This trade represents a 12.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,639 shares of company stock valued at $5,960,841. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATR. Robert W. Baird lifted their price objective on shares of AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Wells Fargo & Company raised their target price on shares of AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group raised shares of AptarGroup from a “hold” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $215.00 in a research note on Monday, October 14th. Finally, Dbs Bank upgraded 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $195.00.

AptarGroup 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.