AptarGroup (NYSE:ATR) Downgraded to "Neutral" Rating by Bank of America

Bank of America lowered shares of AptarGroup (NYSE:ATR - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat.com reports. The firm currently has $173.00 price target on the industrial products company's stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group raised 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 note on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of AptarGroup from $168.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Dbs Bank raised shares of AptarGroup from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird raised their price objective on shares of AptarGroup from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $188.25.

AptarGroup Trading Down 1.8 %

ATR traded down $2.74 during midday trading on Monday, reaching $152.76. 369,029 shares of the company's stock traded hands, compared to its average volume of 286,310. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.97 and a beta of 0.59. AptarGroup has a 52 week low of $122.37 and a 52 week high of $178.03. The firm has a fifty day moving average of $167.20 and a two-hundred day moving average of $156.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.15.

AptarGroup declared that its board has authorized a share buyback plan on Thursday, October 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

AptarGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 24th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. AptarGroup's dividend payout ratio (DPR) is currently 36.14%.

Insiders Place Their Bets

In related news, CEO Stephan B. Tanda sold 30,000 shares of the business's stock in a transaction that occurred 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. The trade was a 14.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimberly Chainey sold 964 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $168.83, for a total value of $162,752.12. Following the sale, the executive vice president now owns 7,848 shares in the company, valued at approximately $1,324,977.84. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in AptarGroup in the 3rd quarter worth about $25,000. UMB Bank n.a. grew its stake in shares of 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 during the period. Huntington National Bank raised its holdings 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 valued at $55,000 after purchasing an additional 259 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 purchasing an additional 265 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in AptarGroup by 42.9% in the third quarter. Venturi Wealth Management LLC now owns 636 shares of the industrial products company's stock worth $102,000 after purchasing an additional 191 shares during the last quarter. 88.52% of the stock is owned by institutional investors.

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.