Silgan Holdings Inc. (NYSE:SLGN) Stock Holdings Boosted by Bayforest Capital Ltd

Bayforest Capital Ltd lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 354.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,947 shares of the industrial products company's stock after purchasing an additional 8,536 shares during the period. Bayforest Capital Ltd's holdings in Silgan were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SLGN. CX Institutional purchased a new position in shares of Silgan in the first quarter worth about $42,000. UMB Bank n.a. grew its position in Silgan by 254.9% in the first quarter. UMB Bank n.a. now owns 898 shares of the industrial products company's stock worth $46,000 after acquiring an additional 645 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Silgan during the first quarter worth $51,000. GeoWealth Management LLC acquired a new position in shares of Silgan in the 4th quarter valued at $56,000. Finally, Continuum Advisory LLC grew its holdings in shares of Silgan by 2,754.3% during the 1st quarter. Continuum Advisory LLC now owns 1,313 shares of the industrial products company's stock worth $67,000 after purchasing an additional 1,267 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SLGN shares. Raymond James Financial reduced their price objective on shares of Silgan from $64.00 to $60.00 and set a "strong-buy" rating on the stock in a report on Thursday. Bank of America reiterated a "neutral" rating and set a $59.00 price target (up from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. Royal Bank Of Canada decreased their price objective on shares of Silgan from $64.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday. Citigroup lifted their target price on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.44.

Insider Activity

In related news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the transaction, the executive vice president owned 153,378 shares of the company's stock, valued at approximately $8,576,897.76. This represents a 6.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president owned 1,380 shares of the company's stock, valued at approximately $74,589. This trade represents a 63.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.13% of the company's stock.

Silgan Trading Down 1.7%

Shares of Silgan stock traded down $0.81 during trading hours on Friday, reaching $45.72. 2,611,167 shares of the company's stock were exchanged, compared to its average volume of 1,031,592. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.69. The company has a current ratio of 0.48, a quick ratio of 0.67 and a debt-to-equity ratio of 1.67. Silgan Holdings Inc. has a 52-week low of $44.37 and a 52-week high of $58.14. The company has a fifty day moving average of $54.45 and a 200-day moving average of $52.96.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.02). Silgan had a net margin of 4.90% and a return on equity of 19.98%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business earned $0.88 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 2nd. Silgan's dividend payout ratio (DPR) is presently 28.47%.

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.