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

Entropy Technologies LP bought a new stake in AptarGroup, Inc. (NYSE:ATR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,502 shares of the industrial products company’s stock, valued at approximately $1,042,000.

Several other hedge funds have also modified their holdings of ATR. Congress Asset Management Co. acquired a new stake in AptarGroup in the third quarter valued at approximately $108,239,000. Mawer Investment Management Ltd. lifted its holdings in AptarGroup by 111.0% in 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 buying an additional 565,511 shares in the last quarter. Handelsbanken Fonder AB boosted 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 buying an additional 347,800 shares during the last quarter. American Century Companies Inc. grew its stake in shares of AptarGroup by 35.9% during 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 acquiring an additional 212,886 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of 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 acquiring an additional 138,134 shares during the last quarter. 88.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AptarGroup news, CEO Stephan B. Tanda sold 30,000 shares of the firm’s stock in a transaction dated 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 owns 174,118 shares of the company’s stock, valued at $29,530,412.80. This trade represents 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, CFO Robert Kuhn sold 200 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $150.18, for a total value of $30,036.00. Following the sale, the chief financial officer now directly owns 65,552 shares in the company, valued at approximately $9,844,599.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephan B. Tanda sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 174,118 shares of the company’s stock, valued at approximately $29,530,412.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,535 shares of company stock valued at $6,230,324. Company insiders own 1.00% of the company’s stock.

AptarGroup Stock Performance

Shares of ATR opened at $175.60 on Thursday. The stock has a market capitalization of $11.68 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 3.03 and a beta of 0.57. The business’s fifty day moving average price is $162.00 and its 200 day moving average price is $151.75. 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, Inc. has a 12-month low of $122.29 and a 12-month high of $178.03.

AptarGroup declared that its board has initiated a share repurchase plan on Thursday, October 10th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

AptarGroup Dividend Announcement

The firm 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 $0.45 dividend. The ex-dividend date is Thursday, October 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.03%. AptarGroup’s payout ratio is currently 36.14%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATR. Jefferies Financial Group upgraded 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 note on Monday, October 14th. Robert W. Baird lifted their price target 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 upgraded shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their target price 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, AptarGroup currently has an average rating of “Buy” and an average price target of $195.00.

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.