Hilton Capital Management LLC Trims Stake in AptarGroup, Inc. (NYSE:ATR)

Hilton Capital Management LLC trimmed its position in AptarGroup, Inc. (NYSE:ATR) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,682 shares of the industrial products company’s stock after selling 446 shares during the quarter. Hilton Capital Management LLC’s holdings in AptarGroup were worth $1,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in 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 raised its position in shares of AptarGroup by 3.3% in 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 in the last quarter. 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 boosted its position in AptarGroup by 3.6% during the second 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 in the last quarter. Finally, Argent Trust Co grew its stake in AptarGroup by 6.1% in 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 during the last quarter. Institutional investors own 88.52% of the company’s stock.

Insider Transactions at AptarGroup

In related news, insider Gael Touya sold 3,300 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.62, for a total value of $500,346.00. Following the completion of the transaction, the insider now owns 32,165 shares of the company’s stock, valued at approximately $4,876,857.30. This represents a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephan B. Tanda sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 of the company’s stock, 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 have sold 38,299 shares of company stock worth $6,363,040 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

AptarGroup Stock Performance

Shares of ATR stock opened at $168.61 on Thursday. The business has a fifty day moving average of $163.85 and a 200 day moving average of $152.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.15. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.87 and a beta of 0.57. AptarGroup, Inc. has a 1 year low of $122.29 and a 1 year high of $178.03.

AptarGroup announced that its board has approved a share repurchase program on Thursday, October 10th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes 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.

AptarGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 1.07%. AptarGroup’s dividend payout ratio (DPR) is presently 36.14%.

Wall Street Analysts Forecast Growth

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