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

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

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in AptarGroup by 29.4% during the third quarter. Victory Capital Management Inc. now owns 2,106,885 shares of the industrial products company’s stock worth $337,502,000 after purchasing an additional 479,193 shares during the period. Mawer Investment Management Ltd. grew its position in shares of AptarGroup by 7.7% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,158,102 shares of the industrial products company’s stock worth $185,516,000 after buying an additional 82,934 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of AptarGroup by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 953,950 shares of the industrial products company’s stock valued at $152,813,000 after acquiring an additional 17,975 shares in the last quarter. American Century Companies Inc. lifted its position in shares of 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 acquiring an additional 212,886 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in AptarGroup by 9.9% during the second quarter. Dimensional Fund Advisors LP now owns 716,617 shares of the industrial products company’s stock worth $100,917,000 after acquiring an additional 64,288 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors and hedge funds.

AptarGroup Price Performance

Shares of NYSE ATR opened at $172.06 on Wednesday. The stock 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 quick ratio of 1.15 and a current ratio of 1.62. AptarGroup, Inc. has a fifty-two week low of $122.29 and a fifty-two week high of $178.03. The firm’s 50-day simple moving average is $165.73 and its 200 day simple moving average is $153.36.

AptarGroup Announces Dividend

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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ATR shares. Jefferies Financial Group upgraded shares of AptarGroup from a “hold” rating to a “buy” rating and upped their price objective for the company from $155.00 to $215.00 in a report on Monday, October 14th. Robert W. Baird upped their price target on AptarGroup from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Dbs Bank raised AptarGroup from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on AptarGroup from $168.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AptarGroup currently has an average rating of “Buy” and a consensus target price of $195.00.

Insider Transactions at AptarGroup

In other news, insider Gael Touya sold 3,300 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was 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 of the company’s stock, valued at $4,876,857.30. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kimberly Chainey sold 964 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $168.83, for a total transaction of $162,752.12. Following the completion of the transaction, the executive vice president now directly owns 7,848 shares in the company, valued at $1,324,977.84. This trade represents a 10.94 % 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 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.