First Hawaiian Bank Cuts Stake in AptarGroup, Inc. (NYSE:ATR)

First Hawaiian Bank cut its holdings in shares of AptarGroup, Inc. (NYSE:ATR) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,947 shares of the industrial products company’s stock after selling 1,129 shares during the period. First Hawaiian Bank’s holdings in AptarGroup were worth $2,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in AptarGroup during the 3rd quarter valued at about $25,000. UMB Bank n.a. boosted its holdings in AptarGroup by 446.5% in the third quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 192 shares in the last quarter. Huntington National Bank grew its stake in shares of AptarGroup by 312.0% during the third quarter. Huntington National Bank now owns 342 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 259 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AptarGroup by 79.6% during the third quarter. GAMMA Investing LLC now owns 598 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 265 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of AptarGroup by 42.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 636 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 88.52% of the company’s stock.

Insider Transactions at AptarGroup

In other AptarGroup news, CEO Stephan B. Tanda sold 30,000 shares of the company’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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kimberly Chainey sold 964 shares of AptarGroup stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following 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 trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

AptarGroup Price Performance

Shares of ATR opened at $153.82 on Thursday. The business’s 50-day moving average is $166.88 and its two-hundred day moving average is $156.96. The company has a market capitalization of $10.24 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.97 and a beta of 0.59. AptarGroup, Inc. has a fifty-two week low of $122.97 and a fifty-two week high of $178.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.62.

AptarGroup announced that its board has initiated a stock repurchase program 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 purchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ATR has been the topic of several research analyst reports. Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Raymond James began coverage on shares of AptarGroup in a report on Tuesday. They set an “outperform” rating and a $200.00 price objective on the stock. Robert W. Baird raised their target price on AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and boosted their price target for the company from $155.00 to $215.00 in a research note on Monday, October 14th. Finally, Bank of America cut AptarGroup from a “buy” rating to a “neutral” rating and set a $173.00 price objective for the company. in a research note on Monday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AptarGroup currently has a consensus rating of “Buy” and an average target price of $190.60.

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.