Entropy Technologies LP Buys New Stake in AptarGroup, Inc. (NYSE:ATR)

Entropy Technologies LP purchased a new position in shares of AptarGroup, Inc. (NYSE:ATR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,502 shares of the industrial products company’s stock, valued at approximately $1,042,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Congress Asset Management Co. bought a new stake in shares of AptarGroup during the third quarter valued at about $108,239,000. Mawer Investment Management Ltd. boosted its stake in AptarGroup by 111.0% during 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 buying an additional 565,511 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in AptarGroup by 182.1% during the third quarter. Handelsbanken Fonder AB now owns 538,830 shares of the industrial products company’s stock worth $86,315,000 after acquiring an additional 347,800 shares during the period. American Century Companies Inc. raised its position in 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 acquiring an additional 212,886 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in AptarGroup by 36.2% in the 2nd quarter. Millennium Management LLC now owns 519,700 shares of the industrial products company’s stock valued at $73,179,000 after acquiring an additional 138,134 shares during the last quarter. Institutional investors own 88.52% of the company’s stock.

Insider Transactions at AptarGroup

In related news, CFO Robert Kuhn sold 200 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $150.18, for a total transaction of $30,036.00. Following the transaction, the chief financial officer now directly owns 65,552 shares of the company’s stock, valued at approximately $9,844,599.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AptarGroup news, CFO Robert Kuhn sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $150.18, for a total value of $30,036.00. Following the transaction, the chief financial officer now owns 65,552 shares in the company, valued at approximately $9,844,599.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shiela Vinczeller sold 1,660 shares of AptarGroup stock in a transaction on Monday, August 26th. The shares were sold at an average price of $151.15, for a total transaction of $250,909.00. Following the sale, the insider now directly owns 22,651 shares of the company’s stock, valued at $3,423,698.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,535 shares of company stock valued at $6,230,324 over the last quarter. Company insiders own 1.00% of the company’s stock.

AptarGroup Stock Down 0.1 %

ATR stock opened at $175.60 on Thursday. The company’s 50 day simple moving average is $162.00 and its 200-day simple moving average is $151.75. AptarGroup, Inc. has a 52-week low of $122.29 and a 52-week high of $178.03. 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 firm has a market capitalization of $11.68 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.03 and a beta of 0.57.

AptarGroup announced that its board has authorized a share buyback program on Thursday, October 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

AptarGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.03%. AptarGroup’s payout ratio is currently 36.14%.

Wall Street Analyst Weigh In

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

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.