Dark Forest Capital Management LP Makes New $266,000 Investment in Silgan Holdings Inc. (NYSE:SLGN)

Dark Forest Capital Management LP purchased a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,111 shares of the industrial products company's stock, valued at approximately $266,000.

Several other hedge funds also recently modified their holdings of SLGN. Vanguard Group Inc. grew its holdings in Silgan by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after purchasing an additional 455,381 shares during the period. FMR LLC raised its holdings in shares of Silgan by 12.2% during the fourth quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after purchasing an additional 767,944 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after purchasing an additional 656,923 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Silgan by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,062,013 shares of the industrial products company's stock valued at $159,377,000 after purchasing an additional 11,836 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Silgan by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock valued at $111,388,000 after purchasing an additional 9,532 shares during the period. Institutional investors own 70.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America upped their price objective on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Loop Capital upped their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada upped their target price on shares of Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Silgan currently has an average rating of "Moderate Buy" and an average price target of $62.78.

Insider Activity

In related news, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

Silgan Trading Up 0.6 %

NYSE:SLGN opened at $51.73 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a 50-day moving average price of $50.59 and a two-hundred day moving average price of $52.44.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. On average, equities analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.20 per share. This is an increase from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, March 17th. Silgan's dividend payout ratio is currently 31.01%.

Silgan Company 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.

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