Principal Financial Group Inc. Trims Stock Position in AptarGroup, Inc. (NYSE:ATR)

Principal Financial Group Inc. lessened its position in shares of AptarGroup, Inc. (NYSE:ATR) by 30.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,716 shares of the industrial products company’s stock after selling 66,929 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of AptarGroup worth $24,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of AptarGroup in the third quarter worth approximately $25,000. UMB Bank n.a. grew its stake in AptarGroup by 446.5% in the 3rd quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after buying an additional 192 shares in the last quarter. Huntington National Bank increased its holdings in shares of AptarGroup by 312.0% in the 3rd quarter. Huntington National Bank now owns 342 shares of the industrial products company’s stock worth $55,000 after buying an additional 259 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AptarGroup by 79.6% during the 3rd quarter. GAMMA Investing LLC now owns 598 shares of the industrial products company’s stock valued at $96,000 after buying an additional 265 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of AptarGroup by 42.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 636 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 191 shares during the last quarter. 88.52% of the stock is owned by institutional investors.

AptarGroup Stock Up 0.5 %

ATR opened at $159.35 on Thursday. AptarGroup, Inc. has a 12 month low of $122.29 and a 12 month high of $178.03. 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 business’s 50-day moving average price is $169.13 and its 200-day moving average price is $156.23. The company has a market cap of $10.60 billion, a P/E ratio of 32.00, a P/E/G ratio of 2.97 and a beta of 0.58.

AptarGroup announced that its board has authorized 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 buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

AptarGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a yield of 1.13%. AptarGroup’s dividend payout ratio (DPR) is currently 36.14%.

Insider Activity

In other news, EVP Kimberly Chainey sold 964 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following the completion of the transaction, 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 ownership of the stock. The sale 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 dated 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 completion of the sale, the chief executive officer now directly owns 174,118 shares in the company, valued at $29,530,412.80. The trade was a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

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