Arrowstreet Capital Limited Partnership Sells 86,698 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Arrowstreet Capital Limited Partnership decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 95.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,089 shares of the industrial products company's stock after selling 86,698 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Silgan were worth $213,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Silgan during the 4th quarter worth approximately $38,680,000. JPMorgan Chase & Co. boosted its stake in Silgan by 12.8% in the 4th quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after purchasing an additional 656,923 shares during the period. Vanguard Group Inc. raised its stake in shares of Silgan by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock valued at $464,886,000 after purchasing an additional 455,381 shares during the period. Raymond James Financial Inc. acquired a new stake in Silgan in the 4th quarter valued at approximately $11,419,000. Finally, Bank of New York Mellon Corp boosted its position in Silgan by 22.6% during the 4th quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company's stock worth $47,575,000 after acquiring an additional 168,789 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Price Performance

Shares of SLGN stock traded up $0.33 on Friday, reaching $49.33. The company had a trading volume of 647,798 shares, compared to its average volume of 652,329. The business's 50-day moving average is $50.92 and its 200 day moving average is $52.43. The stock has a market capitalization of $5.27 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a one year low of $41.14 and a one year high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities research analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, March 17th. This is a positive change from Silgan's previous quarterly dividend of $0.19. Silgan's payout ratio is 31.01%.

Analyst Ratings Changes

SLGN has been the topic of several recent research reports. Bank of America lifted their price target on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Robert W. Baird boosted their price target on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Loop Capital increased their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.22.

Insider Buying and Selling

In related news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.