Entropy Technologies LP Makes New $1.04 Million Investment in AptarGroup, Inc. (NYSE:ATR)

Entropy Technologies LP acquired a new stake in AptarGroup, Inc. (NYSE:ATR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,502 shares of the industrial products company's stock, valued at approximately $1,042,000.

A number of other hedge funds also recently made changes to their positions in ATR. Congress Asset Management Co. acquired a new position in AptarGroup in the third quarter valued at about $108,239,000. Mawer Investment Management Ltd. increased its holdings in AptarGroup by 111.0% during the 2nd quarter. Mawer Investment Management Ltd. now owns 1,075,168 shares of the industrial products company's stock valued at $151,394,000 after purchasing an additional 565,511 shares in the last quarter. Handelsbanken Fonder AB raised its position in AptarGroup by 182.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 538,830 shares of the industrial products company's stock valued at $86,315,000 after purchasing an additional 347,800 shares during the last quarter. American Century Companies Inc. increased its stake in shares of AptarGroup by 35.9% in the second quarter. American Century Companies Inc. now owns 805,301 shares of the industrial products company's stock valued at $113,395,000 after buying an additional 212,886 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of AptarGroup by 36.2% in the second quarter. Millennium Management LLC now owns 519,700 shares of the industrial products company's stock valued at $73,179,000 after buying an additional 138,134 shares in the last quarter. Institutional investors and hedge funds own 88.52% of the company's stock.

Insider Transactions at AptarGroup

In related news, CEO Stephan B. Tanda sold 30,000 shares of the firm'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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gael Touya sold 3,300 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.62, for a total transaction of $500,346.00. Following the completion of the transaction, the insider now owns 32,165 shares of the company's stock, valued at approximately $4,876,857.30. The trade was a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,535 shares of company stock valued at $6,230,324. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of 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 boosted their target price 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 upgraded AptarGroup from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Finally, Robert W. Baird boosted their price objective on AptarGroup from $170.00 to $185.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, AptarGroup presently has an average rating of "Buy" and a consensus target price of $195.00.

AptarGroup Trading Down 0.8 %

ATR traded down $1.35 during trading on Thursday, reaching $174.15. 198,168 shares of the stock traded hands, compared to its average volume of 291,039. AptarGroup, Inc. has a 12 month low of $122.29 and a 12 month high of $178.03. The stock has a market capitalization of $11.59 billion, a PE ratio of 34.96, a P/E/G ratio of 3.03 and a beta of 0.57. The stock's 50-day moving average is $162.49 and its 200 day moving average is $151.92. 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 announced that its board has authorized a stock repurchase plan on Thursday, October 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

AptarGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a yield of 1.03%. AptarGroup's payout ratio is 36.14%.

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.