Retirement Systems of Alabama Reduces Stock Holdings in AptarGroup, Inc. (NYSE:ATR)

Retirement Systems of Alabama lowered its stake in AptarGroup, Inc. (NYSE:ATR) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,546 shares of the industrial products company’s stock after selling 1,140 shares during the period. Retirement Systems of Alabama owned 0.26% of AptarGroup worth $28,121,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of AptarGroup by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,977 shares of the industrial products company’s stock valued at $317,000 after buying an additional 68 shares during the period. Commerce Bank grew its holdings in shares of AptarGroup by 3.3% during the 3rd quarter. Commerce Bank now owns 2,349 shares of the industrial products company’s stock worth $376,000 after acquiring an additional 75 shares during the period. Ballentine Partners LLC raised its position 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 worth $531,000 after acquiring an additional 76 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of AptarGroup by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,361 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 82 shares during the period. Finally, Argent Trust Co boosted its position in shares of AptarGroup by 6.1% during the second quarter. Argent Trust Co now owns 1,685 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 97 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ATR. 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 report on Tuesday, October 15th. Robert W. Baird boosted their price objective on shares of AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised AptarGroup from a “hold” rating to a “buy” rating and boosted their price target for the stock from $155.00 to $215.00 in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $195.00.

Insider Transactions at AptarGroup

In other news, 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 completion of the transaction, the executive vice president now owns 7,848 shares in the company, valued at $1,324,977.84. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephan B. Tanda sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 174,118 shares in the company, valued at approximately $29,530,412.80. The trade was a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

AptarGroup Price Performance

ATR opened at $170.18 on Friday. The firm has a market cap of $11.32 billion, a PE ratio of 34.17, a P/E/G ratio of 2.97 and a beta of 0.58. The stock has a 50-day moving average price of $169.14 and a 200-day moving average price of $155.28. AptarGroup, Inc. has a 1 year low of $122.29 and a 1 year high of $178.03. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 24th were issued a $0.45 dividend. The ex-dividend date was Thursday, October 24th. This represents a $1.80 annualized dividend and a yield of 1.06%. AptarGroup’s dividend payout ratio (DPR) is presently 36.14%.

AptarGroup declared that its board has authorized a stock repurchase 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 repurchase up to 4.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.