Quest Partners LLC Cuts Stock Position in AptarGroup, Inc. (NYSE:ATR)

Quest Partners LLC lessened its stake in AptarGroup, Inc. (NYSE:ATR - Free Report) by 84.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,089 shares of the industrial products company's stock after selling 11,219 shares during the quarter. Quest Partners LLC's holdings in AptarGroup were worth $335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in AptarGroup by 29.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,106,885 shares of the industrial products company's stock valued at $337,502,000 after buying an additional 479,193 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in shares of 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 acquiring an additional 565,511 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of AptarGroup by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 953,950 shares of the industrial products company's stock valued at $152,813,000 after acquiring an additional 17,975 shares during the last quarter. American Century Companies Inc. grew its holdings 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 purchasing an additional 212,886 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in AptarGroup by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 716,617 shares of the industrial products company's stock worth $100,917,000 after purchasing an additional 64,288 shares during the last quarter. Institutional investors own 88.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of AptarGroup from a "hold" rating to a "buy" rating and increased their price objective for the company from $155.00 to $215.00 in a research report on Monday, October 14th. Dbs Bank raised shares of AptarGroup from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 16th. Robert W. Baird boosted their price objective on AptarGroup from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company raised their price objective on AptarGroup from $168.00 to $185.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $195.00.

AptarGroup Trading Down 0.3 %

NYSE:ATR traded down $0.46 during mid-day trading on Tuesday, hitting $172.04. 140,297 shares of the stock traded hands, compared to its average volume of 291,227. The company has a quick ratio of 1.15, a current ratio of 1.62 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.95 and a beta of 0.57. AptarGroup, Inc. has a 52 week low of $122.29 and a 52 week high of $178.03. The firm's 50 day moving average is $165.35 and its two-hundred day moving average is $153.19.

AptarGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, October 24th. AptarGroup's dividend payout ratio is presently 36.14%.

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

Insider Activity at AptarGroup

In other news, insider Hedi Tlili sold 1,375 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $152.54, for a total value of $209,742.50. Following the completion of the sale, the insider now owns 9,379 shares in the company, valued at approximately $1,430,672.66. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kimberly Chainey sold 964 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following the transaction, 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. Insiders sold 35,639 shares of company stock worth $5,960,841 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.