AptarGroup (NYSE:ATR) Now Covered by Raymond James

Raymond James began coverage on shares of AptarGroup (NYSE:ATR - Free Report) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $200.00 price objective on the industrial products company's stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group upgraded AptarGroup from a "hold" rating to a "buy" rating and raised their price objective for the company from $155.00 to $215.00 in a research report on Monday, October 14th. Wells Fargo & Company decreased their price objective on AptarGroup from $185.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday. Bank of America lowered shares of AptarGroup from a "buy" rating to a "neutral" rating and set a $173.00 target price for the company. in a report on Monday. Robert W. Baird upped their price target on shares of AptarGroup from $170.00 to $185.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Finally, Dbs Bank raised shares of AptarGroup from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AptarGroup has an average rating of "Buy" and an average target price of $190.60.

AptarGroup Price Performance

Shares of ATR stock traded up $0.23 during mid-day trading on Tuesday, hitting $153.15. The company had a trading volume of 361,162 shares, compared to its average volume of 305,016. 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 stock's 50 day moving average price is $167.20 and its 200-day moving average price is $156.91. AptarGroup has a 52-week low of $122.37 and a 52-week high of $178.03. The company has a market capitalization of $10.19 billion, a P/E ratio of 30.75, a P/E/G ratio of 2.97 and a beta of 0.59.

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

AptarGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, October 24th. AptarGroup's payout ratio is 36.14%.

Insider Buying and Selling

In related news, EVP Kimberly Chainey sold 964 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $168.83, for a total transaction 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 approximately $1,324,977.84. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephan B. Tanda sold 30,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $169.60, for a total value of $5,088,000.00. Following the completion of 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.

Hedge Funds Weigh In On AptarGroup

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in AptarGroup during the third quarter worth $25,000. UMB Bank n.a. lifted its stake in shares of AptarGroup by 446.5% during the 3rd quarter. UMB Bank n.a. now owns 235 shares of the industrial products company's stock worth $38,000 after purchasing an additional 192 shares during the last quarter. Huntington National Bank boosted its position in AptarGroup by 312.0% during the third quarter. Huntington National Bank now owns 342 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC grew its stake in AptarGroup by 79.6% in the third quarter. GAMMA Investing LLC now owns 598 shares of the industrial products company's stock valued at $96,000 after purchasing an additional 265 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in AptarGroup by 42.9% in the third 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. 88.52% of the stock is currently owned by institutional investors.

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.