Silgan Holdings Inc. (NYSE:SLGN) Position Increased by Man Group plc

Man Group plc boosted its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,003 shares of the industrial products company's stock after buying an additional 7,773 shares during the period. Man Group plc owned approximately 0.12% of Silgan worth $6,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Silgan by 23.6% during the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock valued at $3,010,000 after acquiring an additional 10,936 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Silgan during the 4th quarter valued at about $1,142,000. Ritholtz Wealth Management purchased a new position in shares of Silgan during the 4th quarter worth approximately $620,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Silgan by 5.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock valued at $20,076,000 after purchasing an additional 19,080 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Silgan in the fourth quarter worth $2,563,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird raised their target price on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a research note on Thursday, May 1st. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $65.00 to $60.00 in a research report on Tuesday, April 22nd. Finally, Loop Capital increased their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Silgan presently has an average rating of "Buy" and an average price target of $63.11.

Silgan Stock Performance

Shares of NYSE SLGN traded down $0.42 during trading on Friday, reaching $54.50. 392,417 shares of the company traded hands, compared to its average volume of 665,370. The stock has a market cap of $5.83 billion, a P/E ratio of 21.12, a PEG ratio of 1.27 and a beta of 0.74. The firm's fifty day simple moving average is $51.38 and its 200 day simple moving average is $52.76. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. Silgan's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Buying and Selling at Silgan

In other news, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction that occurred 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 now owns 1,380 shares in the company, valued at $74,589. This represents a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Lewis sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total value of $559,200.00. Following the transaction, the executive vice president now owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,378 shares of company stock worth $7,528,981 over the last ninety days. Corporate insiders own 1.39% of the company's stock.

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.