Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Marshall Wace LLP

Marshall Wace LLP increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 36.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,730 shares of the industrial products company's stock after acquiring an additional 4,977 shares during the period. Marshall Wace LLP's holdings in Silgan were worth $975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC raised its stake in Silgan by 12.2% in the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company's stock valued at $366,765,000 after purchasing an additional 767,944 shares during the last quarter. Norges Bank acquired a new stake in shares of Silgan in the fourth quarter valued at about $38,680,000. JPMorgan Chase & Co. lifted its stake in shares of Silgan by 12.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock worth $301,670,000 after buying an additional 656,923 shares in the last quarter. Vanguard Group Inc. boosted its position in Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after acquiring an additional 455,381 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Silgan during the 4th quarter valued at about $11,419,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Up 4.1 %

NYSE:SLGN traded up $2.14 during midday trading on Friday, reaching $54.85. The company had a trading volume of 944,730 shares, compared to its average volume of 660,929. The stock's fifty day simple moving average is $50.43 and its 200-day simple moving average is $52.47. 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. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share 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 analyst estimates of $1.48 billion. Silgan had a net margin of 4.72% and a return on equity of 19.70%. The company's revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. On average, sell-side analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.46%. Silgan's payout ratio is 29.74%.

Insider Activity

In other news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the sale, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLGN shares. Wells Fargo & Company upped their price target on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on shares of Silgan from $63.00 to $65.00 and gave the company 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 target price on the stock in a research note on Thursday. Raymond James raised shares of Silgan from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Finally, Loop Capital upped their price objective on Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $62.78.

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.