AptarGroup, Inc. (NYSE:ATR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in AptarGroup, Inc. (NYSE:ATR) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,977 shares of the industrial products company’s stock after buying an additional 68 shares during the quarter. CIBC Asset Management Inc’s holdings in AptarGroup were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its holdings in AptarGroup by 9.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,607 shares of the industrial products company’s stock valued at $2,532,000 after acquiring an additional 1,583 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of AptarGroup by 167.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,690 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 4,186 shares during the period. SG Americas Securities LLC purchased a new position in shares of AptarGroup during the 2nd quarter valued at approximately $2,735,000. American Century Companies Inc. lifted its stake in shares of AptarGroup by 35.9% in the 2nd quarter. American Century Companies Inc. now owns 805,301 shares of the industrial products company’s stock valued at $113,395,000 after purchasing an additional 212,886 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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 worth $91,092,000 after buying an additional 12,533 shares in the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.

AptarGroup Stock Up 0.8 %

ATR opened at $170.13 on Friday. The company has a market cap of $11.32 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.87 and a beta of 0.57. AptarGroup, Inc. has a twelve month low of $122.29 and a twelve month high of $178.03. The company has a 50-day moving average price of $164.20 and a 200 day moving average price of $152.71. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.32.

AptarGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.06%. AptarGroup’s payout ratio is currently 36.14%.

AptarGroup declared that its board has approved a stock repurchase program on Thursday, October 10th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 4.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of AptarGroup from $168.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and lifted their price target for the company from $155.00 to $215.00 in a research note on Monday, October 14th. Robert W. Baird increased their price target on AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $195.00.

Insider Activity

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, CEO Stephan B. Tanda sold 30,000 shares of the business’s stock in a transaction that occurred 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 approximately $29,530,412.80. This represents a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,299 shares of company stock worth $6,363,040 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.