Tidal Investments LLC Purchases 12,631 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Tidal Investments LLC lifted its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 67.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,298 shares of the industrial products company's stock after buying an additional 12,631 shares during the period. Tidal Investments LLC's holdings in Silgan were worth $1,629,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Man Group plc raised its holdings in shares of Silgan by 6.5% during the 4th quarter. Man Group plc now owns 127,003 shares of the industrial products company's stock valued at $6,611,000 after buying an additional 7,773 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Silgan during the 4th quarter valued at about $561,000. Millennium Management LLC raised its holdings in shares of Silgan by 764.7% during the 4th quarter. Millennium Management LLC now owns 1,012,644 shares of the industrial products company's stock valued at $52,708,000 after buying an additional 895,528 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Silgan by 36.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,515,582 shares of the industrial products company's stock valued at $78,885,000 after buying an additional 401,890 shares in the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of Silgan by 90.5% during the 4th quarter. Gotham Asset Management LLC now owns 51,944 shares of the industrial products company's stock valued at $2,704,000 after buying an additional 24,676 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Trading Down 0.2%

Shares of SLGN traded down $0.09 during mid-day trading on Thursday, hitting $54.71. 64,579 shares of the company's stock traded hands, compared to its average volume of 662,150. 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 Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a market capitalization of $5.85 billion, a P/E ratio of 21.21, a PEG ratio of 1.27 and a beta of 0.74. The business's 50-day moving average price is $51.68 and its 200-day moving average price is $52.80.

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

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. Silgan's dividend payout ratio (DPR) is presently 29.74%.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the sale, the executive vice president now directly owns 153,378 shares in the company, valued at $8,576,897.76. The trade was a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of Silgan stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following 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 disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Robert W. Baird lifted their price target on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised 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. Wells Fargo & Company lifted their price target on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Loop Capital lifted their price target on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $63.11.

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.