Wellington Management Group LLP Cuts Holdings in AptarGroup, Inc. (NYSE:ATR)

Wellington Management Group LLP reduced its position in AptarGroup, Inc. (NYSE:ATR) by 3.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,738 shares of the industrial products company’s stock after selling 547 shares during the period. Wellington Management Group LLP’s holdings in AptarGroup were worth $2,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of AptarGroup during the 3rd quarter worth approximately $25,000. Blue Trust Inc. raised its stake in AptarGroup by 281.0% during the second quarter. Blue Trust Inc. now owns 240 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 177 shares in the last quarter. UMB Bank n.a. lifted its position in AptarGroup by 446.5% during the third quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 192 shares during 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. Finally, 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. 88.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at AptarGroup

In related 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 value of $162,752.12. Following the completion of the sale, the executive vice president now directly owns 7,848 shares of the company’s stock, valued at $1,324,977.84. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephan B. Tanda sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $169.60, for a total transaction of $5,088,000.00. Following the transaction, the chief executive officer now directly owns 174,118 shares in the company, valued at $29,530,412.80. This trade represents a 14.70 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

AptarGroup Stock Performance

ATR stock opened at $162.95 on Wednesday. AptarGroup, Inc. has a twelve month low of $122.29 and a twelve month high of $178.03. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.97 and a beta of 0.58. The business’s fifty day simple moving average is $169.51 and its two-hundred day simple moving average is $155.72. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 24th were issued a dividend of $0.45 per share. 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 1.10%. AptarGroup’s payout ratio is 36.14%.

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

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.