Daiwa Securities Group Inc. Acquires 28,130 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Daiwa Securities Group Inc. lifted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 76.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,830 shares of the industrial products company's stock after purchasing an additional 28,130 shares during the quarter. Daiwa Securities Group Inc. owned about 0.06% of Silgan worth $2,934,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SLGN. Quent Capital LLC boosted its stake in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company's stock worth $47,000 after buying an additional 505 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company's stock worth $48,000 after purchasing an additional 538 shares during the period. Headlands Technologies LLC purchased a new position in shares of Silgan in the 3rd quarter worth about $70,000. Blue Trust Inc. raised its holdings in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company's stock worth $91,000 after purchasing an additional 2,087 shares during the period. Finally, Corton Capital Inc. purchased a new position in shares of Silgan in the 3rd quarter worth about $256,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Silgan Stock Down 0.6 %

NYSE SLGN traded down $0.28 during mid-day trading on Monday, reaching $47.12. 783,395 shares of the company's stock traded hands, compared to its average volume of 574,902. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.58 and a beta of 0.68. The company has a fifty day simple moving average of $45.68 and a 200-day simple moving average of $43.82. The company has a current ratio of 1.02, a quick ratio of 0.61 and a debt-to-equity ratio of 1.35. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $54.92.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.39 billion. Silgan had a return on equity of 20.29% and a net margin of 5.44%. As a group, equities research analysts expect that Silgan Holdings Inc. will post 3.67 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.19 dividend. This is a positive change from Silgan's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. Silgan's dividend payout ratio (DPR) is presently 25.50%.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on Silgan from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, February 1st. Wells Fargo & Company raised their target price on Silgan from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Raymond James raised their target price on Silgan from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Citigroup raised their target price on Silgan from $47.00 to $51.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. raised their target price on Silgan from $39.00 to $46.00 and gave the company an "underweight" rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Silgan presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.13.

Insider Transactions at Silgan

In related news, VP B Frederik Prinzen sold 4,684 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares in the company, valued at approximately $378,024.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.08% 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.