PNC Financial Services Group Inc. Sells 598 Shares of AptarGroup, Inc. (NYSE:ATR)

PNC Financial Services Group Inc. lessened its position in shares of AptarGroup, Inc. (NYSE:ATR) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,291 shares of the industrial products company’s stock after selling 598 shares during the period. PNC Financial Services Group Inc.’s holdings in AptarGroup were worth $1,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AptarGroup in the 3rd quarter valued at about $25,000. UMB Bank n.a. increased its stake in shares of AptarGroup by 446.5% in the third quarter. UMB Bank n.a. now owns 235 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 192 shares in the last quarter. Blue Trust Inc. raised its position in shares of AptarGroup by 281.0% in the second quarter. Blue Trust Inc. now owns 240 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 177 shares during the period. Gradient Investments LLC purchased a new stake in shares of AptarGroup during the 2nd quarter valued at approximately $40,000. Finally, Versant Capital Management Inc lifted its stake in shares of AptarGroup by 4,983.3% during the 2nd quarter. Versant Capital Management Inc now owns 305 shares of the industrial products company’s stock valued at $43,000 after buying an additional 299 shares in the last quarter. Institutional investors own 88.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Stephan B. Tanda sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gael Touya sold 3,300 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.62, for a total transaction of $500,346.00. Following the completion of the sale, the insider now directly owns 32,165 shares in the company, valued at $4,876,857.30. This represents a 9.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,639 shares of company stock worth $5,960,841 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

AptarGroup Stock Down 0.3 %

Shares of NYSE:ATR opened at $172.06 on Wednesday. The firm has a fifty day moving average price of $165.73 and a two-hundred day moving average price of $153.36. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 2.95 and a beta of 0.57. 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 one year low of $122.29 and a one year high of $178.03.

AptarGroup declared that its board has approved a share buyback plan on Thursday, October 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

AptarGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 24th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, October 24th. AptarGroup’s dividend payout ratio is 36.14%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of AptarGroup from a “hold” rating to a “buy” rating and lifted 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 AptarGroup from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price objective on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Dbs Bank raised AptarGroup from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.