Assenagon Asset Management S.A. Sells 23,775 Shares of AptarGroup, Inc. (NYSE:ATR)

Assenagon Asset Management S.A. lowered its position in AptarGroup, Inc. (NYSE:ATR) by 64.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,102 shares of the industrial products company’s stock after selling 23,775 shares during the period. Assenagon Asset Management S.A.’s holdings in AptarGroup were worth $2,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in AptarGroup during the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings in AptarGroup by 446.5% in the 3rd quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after buying an additional 192 shares during the period. Huntington National Bank raised its stake in AptarGroup by 312.0% during the 3rd quarter. Huntington National Bank now owns 342 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC boosted its position in shares of AptarGroup by 79.6% during the third quarter. GAMMA Investing LLC now owns 598 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 265 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of AptarGroup by 42.9% in the third quarter. Venturi Wealth Management LLC now owns 636 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 88.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of AptarGroup from a “hold” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $215.00 in a report on Monday, October 14th. Raymond James initiated coverage on AptarGroup in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $200.00 price objective on the stock. Robert W. Baird upped their target price 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. Bank of America lowered shares of AptarGroup from a “buy” rating to a “neutral” rating and set a $173.00 price target for the company. in a report on Monday, January 6th. Finally, Dbs Bank raised shares of AptarGroup from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AptarGroup presently has an average rating of “Buy” and an average target price of $190.60.

AptarGroup Stock Down 0.5 %

ATR stock opened at $159.10 on Thursday. The company has a market capitalization of $10.59 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 2.57 and a beta of 0.59. AptarGroup, Inc. has a 12 month low of $128.05 and a 12 month high of $178.03. The firm’s fifty day simple moving average is $163.55 and its 200-day simple moving average is $157.88. 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 announced that its board has initiated a share buyback program on Thursday, October 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Kimberly Chainey sold 964 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $168.83, for a total transaction of $162,752.12. Following the sale, the executive vice president now directly owns 7,848 shares of the company’s stock, valued at $1,324,977.84. This represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer now owns 174,118 shares in the company, valued at $29,530,412.80. This trade represents a 14.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.