Zions Bancorporation National Association UT Invests $2.33 Million in AptarGroup, Inc. (NYSE:ATR)

Key Points

• Zions Bancorporation acquired 15,666 shares of AptarGroup, Inc., valued at approximately $2.3 million, in the 1st quarter, highlighting continued institutional interest in the stock.
• After recent upgrades, AptarGroup holds an average analyst rating of "Buy" with a consensus price target of $174.60, despite some recent downward revisions.
• AptarGroup announced a quarterly dividend of $0.45 per share with a yield of 1.3%, reflecting a dividend payout ratio of 30.98%.

Zions Bancorporation National Association UT purchased a new position in AptarGroup, Inc. (NYSE:ATR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,666 shares of the industrial products company's stock, valued at approximately $2,325,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC grew its stake in AptarGroup by 100.0% in the first quarter. Flagship Wealth Advisors LLC now owns 2,200 shares of the industrial products company's stock worth $326,000 after purchasing an additional 1,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AptarGroup by 1.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,944 shares of the industrial products company's stock worth $2,217,000 after purchasing an additional 202 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AptarGroup by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 422,604 shares of the industrial products company's stock worth $62,706,000 after purchasing an additional 3,867 shares during the period. Argent Trust Co grew its stake in AptarGroup by 29.6% in the first quarter. Argent Trust Co now owns 2,835 shares of the industrial products company's stock worth $421,000 after purchasing an additional 648 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in AptarGroup by 3.2% in the first quarter. Jupiter Asset Management Ltd. now owns 150,533 shares of the industrial products company's stock worth $22,336,000 after purchasing an additional 4,609 shares during the period. 88.52% of the stock is owned by hedge funds and other institutional investors.

AptarGroup Price Performance

NYSE ATR traded down $0.72 during trading on Monday, hitting $140.04. 349,458 shares of the stock traded hands, compared to its average volume of 456,264. The company has a market capitalization of $9.23 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.92 and a beta of 0.57. The firm has a 50-day simple moving average of $153.63 and a 200-day simple moving average of $150.78. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.20. AptarGroup, Inc. has a 12-month low of $130.85 and a 12-month high of $178.03.

AptarGroup (NYSE:ATR - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $966.01 million during the quarter, compared to analyst estimates of $954.06 million. AptarGroup had a return on equity of 15.39% and a net margin of 10.84%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. As a group, analysts predict that AptarGroup, Inc. will post 5.57 EPS for the current year.

AptarGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 24th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, July 24th. AptarGroup's dividend payout ratio (DPR) is currently 30.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $153.00 price target (down from $173.00) on shares of AptarGroup in a report on Monday, August 4th. Raymond James Financial reaffirmed an "outperform" rating and issued a $172.00 price objective (down previously from $182.00) on shares of AptarGroup in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded AptarGroup from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. One 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $174.60.

Insiders Place Their Bets

In related news, EVP Kimberly Chainey sold 1,671 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $152.79, for a total transaction of $255,312.09. Following the completion of the sale, the executive vice president directly owned 11,088 shares of the company's stock, valued at approximately $1,694,135.52. This trade represents a 13.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gael Touya sold 3,300 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $152.62, for a total value of $503,646.00. Following the sale, the insider directly owned 33,963 shares of the company's stock, valued at $5,183,433.06. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,585 shares of company stock valued at $2,418,028 over the last quarter. 0.68% of the stock is currently owned by insiders.

AptarGroup Company 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.