AptarGroup (NYSE:ATR) Given New $180.00 Price Target at Wells Fargo & Company

AptarGroup (NYSE:ATR - Free Report) had its price objective trimmed by Wells Fargo & Company from $185.00 to $180.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.

A number of other brokerages also recently issued reports on ATR. Robert W. Baird raised their price target on shares of AptarGroup from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Jefferies Financial Group upgraded AptarGroup from a "hold" rating to a "buy" rating and lifted their target price for the company from $155.00 to $215.00 in a research report on Monday, October 14th. Dbs Bank upgraded AptarGroup from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Finally, Bank of America lowered shares of AptarGroup from a "buy" rating to a "neutral" rating and set a $173.00 price objective on the stock. in a report on Monday. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $188.25.

AptarGroup Price Performance

Shares of AptarGroup stock traded down $2.74 during trading hours on Monday, reaching $152.76. 369,029 shares of the company's stock were exchanged, compared to its average volume of 286,310. The company has a market capitalization of $10.17 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59. 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 has a 1 year low of $122.37 and a 1 year high of $178.03. The business has a fifty day moving average of $167.20 and a two-hundred day moving average of $156.91.

AptarGroup declared that its Board of Directors has approved a share repurchase plan on Thursday, October 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

AptarGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 1.18%. AptarGroup's payout ratio is presently 36.14%.

Insider Activity at AptarGroup

In related news, CEO Stephan B. Tanda sold 30,000 shares of AptarGroup stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 174,118 shares in the company, valued at approximately $29,530,412.80. This trade represents a 14.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kimberly Chainey sold 964 shares of the business's stock in a transaction on Friday, November 15th. The stock was 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. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AptarGroup

Several hedge funds and other institutional investors have recently made changes to their positions in ATR. GAMMA Investing LLC raised its holdings in AptarGroup by 67.6% in the fourth quarter. GAMMA Investing LLC now owns 1,002 shares of the industrial products company's stock valued at $157,000 after acquiring an additional 404 shares in the last quarter. First Financial Bank Trust Division raised its holdings in shares of AptarGroup by 0.7% in the 4th quarter. First Financial Bank Trust Division now owns 21,554 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 154 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of AptarGroup by 28.0% during the 3rd quarter. Franklin Resources Inc. now owns 69,670 shares of the industrial products company's stock worth $11,648,000 after purchasing an additional 15,244 shares during the last quarter. Tidal Investments LLC grew its stake in shares of AptarGroup by 12.7% during the third quarter. Tidal Investments LLC now owns 18,492 shares of the industrial products company's stock worth $2,962,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in AptarGroup in the third quarter valued at $126,000. Hedge funds and other institutional investors own 88.52% of the company's stock.

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.