Jefferies Financial Group Inc. Sells 22,421 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Jefferies Financial Group Inc. decreased its position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,511 shares of the industrial products company's stock after selling 22,421 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Silgan were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Ritholtz Wealth Management bought a new stake in Silgan in the 4th quarter worth approximately $620,000. Assenagon Asset Management S.A. bought a new stake in Silgan in the 4th quarter worth approximately $1,142,000. Janney Montgomery Scott LLC bought a new stake in Silgan in the 4th quarter worth approximately $2,563,000. Fort Washington Investment Advisors Inc. OH lifted its position in Silgan by 5.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock worth $20,076,000 after buying an additional 19,080 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Silgan in the 4th quarter worth approximately $873,000. Institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price for the company in a research report on Thursday, May 1st. Citigroup lifted their price target on Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Royal Bank of Canada lifted their price target on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. 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. Finally, 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. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $63.11.

Silgan Stock Performance

Shares of SLGN stock opened at $54.43 on Thursday. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.27 and a beta of 0.74. The stock has a fifty day moving average of $50.63 and a 200 day moving average of $52.62. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. 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 (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. As a group, research analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, June 2nd. Silgan's payout ratio is currently 29.74%.

Insider Buying and Selling at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. This represents a 35.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP B Frederik Prinzen sold 2,378 shares of the company's stock in a transaction dated 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 directly 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. Insiders own 1.39% of the company's stock.

About Silgan

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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