Cornerstone Capital Inc. Sells 3,855 Shares of AptarGroup, Inc. (NYSE:ATR)

Cornerstone Capital Inc. trimmed its position in AptarGroup, Inc. (NYSE:ATR) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,105 shares of the industrial products company’s stock after selling 3,855 shares during the quarter. AptarGroup makes up 1.9% of Cornerstone Capital Inc.’s holdings, making the stock its 22nd largest position. Cornerstone Capital Inc. owned about 0.19% of AptarGroup worth $19,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Congress Asset Management Co. acquired a new position in AptarGroup during the third quarter worth approximately $108,239,000. Mawer Investment Management Ltd. increased its holdings 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 worth $151,394,000 after acquiring an additional 565,511 shares during the last quarter. Handelsbanken Fonder AB raised its stake 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 acquiring an additional 347,800 shares during the period. American Century Companies Inc. lifted its holdings in AptarGroup by 35.9% during the 2nd 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 during the last quarter. Finally, Millennium Management LLC boosted its position in AptarGroup by 36.2% during the second quarter. Millennium Management LLC now owns 519,700 shares of the industrial products company’s stock worth $73,179,000 after purchasing an additional 138,134 shares during the period. 88.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Dbs Bank upgraded shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their price target on shares of AptarGroup from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Jefferies Financial Group upgraded AptarGroup from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $155.00 to $215.00 in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their target price on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a research note 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $195.00.

Insider Activity at AptarGroup

In related news, CEO Stephan B. Tanda sold 30,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $169.60, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Stephan B. Tanda sold 30,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $169.60, for a total transaction of $5,088,000.00. Following the completion of the sale, the chief executive officer now directly owns 174,118 shares in the company, valued at $29,530,412.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hedi Tlili sold 1,375 shares of the firm’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 directly owns 9,379 shares in the company, valued at $1,430,672.66. This trade 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. 1.00% of the stock is owned by corporate insiders.

AptarGroup Stock Performance

Shares of NYSE:ATR traded up $1.52 on Tuesday, reaching $169.78. 19,570 shares of the company’s stock were exchanged, compared to its average volume of 291,647. AptarGroup, Inc. has a twelve month low of $122.29 and a twelve month high of $171.41. The company has a fifty day moving average of $159.30 and a 200-day moving average of $150.33. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.91 and a beta of 0.57. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32.

AptarGroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 24th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, October 24th. AptarGroup’s payout ratio is currently 36.14%.

AptarGroup announced that its Board of Directors has approved a share buyback plan on Thursday, October 10th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits 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 management believes its stock is undervalued.

AptarGroup 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.