Congress Asset Management Co. Makes New Investment in AptarGroup, Inc. (NYSE:ATR)

Congress Asset Management Co. acquired a new position in shares of AptarGroup, Inc. (NYSE:ATR - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 675,694 shares of the industrial products company's stock, valued at approximately $108,239,000. Congress Asset Management Co. owned approximately 1.02% of AptarGroup at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC lifted its stake in shares of AptarGroup by 2.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,315 shares of the industrial products company's stock valued at $531,000 after purchasing an additional 76 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of AptarGroup by 3.6% during the second quarter. Fifth Third Bancorp now owns 2,361 shares of the industrial products company's stock worth $332,000 after buying an additional 82 shares during the period. Argent Trust Co increased its holdings in shares of AptarGroup by 6.1% in the second quarter. Argent Trust Co now owns 1,685 shares of the industrial products company's stock valued at $237,000 after buying an additional 97 shares in the last quarter. Adirondack Trust Co. boosted its holdings in AptarGroup by 25.0% during the second quarter. Adirondack Trust Co. now owns 500 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 100 shares during the period. Finally, Fulton Bank N.A. raised its position in AptarGroup by 6.0% in the third quarter. Fulton Bank N.A. now owns 2,058 shares of the industrial products company's stock worth $330,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 88.52% of the company's stock.

AptarGroup Price Performance

ATR traded down $1.09 during trading on Thursday, reaching $167.94. 329,868 shares of the stock were exchanged, compared to its average volume of 293,294. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.95. AptarGroup, Inc. has a 1 year low of $121.61 and a 1 year high of $171.41. The business's 50 day moving average price is $158.18 and its two-hundred day moving average price is $149.61. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 3.29 and a beta of 0.58.

AptarGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 24th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, October 24th. AptarGroup's dividend payout ratio (DPR) is presently 36.14%.

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

Wall Street Analyst Weigh In

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

Insider Transactions at AptarGroup

In related news, insider Xiangwei Gong sold 800 shares of the business's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $146.56, for a total transaction of $117,248.00. Following the transaction, the insider now directly owns 20,174 shares in the company, valued at $2,956,701.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other AptarGroup news, Director Monnas Giovanna Kampouri sold 1,922 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $144.43, for a total transaction of $277,594.46. Following the completion of the transaction, the director now directly owns 8,839 shares in the company, valued at $1,276,616.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Xiangwei Gong sold 800 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $146.56, for a total transaction of $117,248.00. Following the transaction, the insider now owns 20,174 shares of the company's stock, valued at approximately $2,956,701.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,457 shares of company stock valued at $7,680,110 over the last quarter. Company insiders own 1.00% 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.