18,453 Shares in Silgan Holdings Inc. (NYSE:SLGN) Acquired by Hancock Whitney Corp

Hancock Whitney Corp purchased a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,453 shares of the industrial products company's stock, valued at approximately $960,000.

Several other large investors have also recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Silgan by 0.8% during the fourth quarter. Arizona State Retirement System now owns 24,792 shares of the industrial products company's stock worth $1,290,000 after purchasing an additional 195 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Silgan by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,440 shares of the industrial products company's stock valued at $1,897,000 after buying an additional 230 shares in the last quarter. Synovus Financial Corp boosted its position in Silgan by 1.6% in the 4th quarter. Synovus Financial Corp now owns 22,721 shares of the industrial products company's stock valued at $1,183,000 after buying an additional 368 shares during the period. LPL Financial LLC grew its stake in Silgan by 1.8% in the 4th quarter. LPL Financial LLC now owns 21,793 shares of the industrial products company's stock worth $1,134,000 after acquiring an additional 393 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Silgan by 2.4% during the fourth quarter. M&T Bank Corp now owns 16,970 shares of the industrial products company's stock worth $883,000 after acquiring an additional 404 shares during the period. Institutional investors own 70.25% of the company's stock.

Silgan Stock Performance

Silgan stock traded up $0.87 during midday trading on Thursday, hitting $52.52. 320,485 shares of the company were exchanged, compared to its average volume of 663,269. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two week high of $58.14. 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 business has a fifty day simple moving average of $50.47 and a two-hundred day simple moving average of $52.43. The firm has a market capitalization of $5.62 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.72% and a return on equity of 19.70%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $0.69 earnings per share. The company's revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Silgan's dividend payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

SLGN has been the topic of several research reports. Wells Fargo & Company upped their target price on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Raymond James raised Silgan from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. 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 report on Thursday, January 30th. Robert W. Baird lifted their price objective on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $62.78.

Insider Transactions at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of Silgan 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 sale, the chief executive officer now directly owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction that occurred on Thursday, February 13th. The shares were 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 owns 152,133 shares of the company's stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. 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.