LSV Asset Management Sells 1,209,793 Shares of Silgan Holdings Inc. (NYSE:SLGN)

LSV Asset Management decreased its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 77.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 350,300 shares of the industrial products company's stock after selling 1,209,793 shares during the quarter. LSV Asset Management owned 0.32% of Silgan worth $15,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SLGN. Quent Capital LLC lifted its stake in Silgan by 94.9% in the fourth quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company's stock worth $47,000 after acquiring an additional 505 shares during the last quarter. Fifth Third Bancorp lifted its stake in Silgan by 92.4% in the third quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company's stock worth $48,000 after acquiring an additional 538 shares during the last quarter. Headlands Technologies LLC purchased a new position in Silgan in the third quarter worth approximately $70,000. Blue Trust Inc. raised its holdings in Silgan by 4,440.4% during the fourth 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 in the last quarter. Finally, Corton Capital Inc. acquired a new stake in Silgan during the third quarter worth approximately $256,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

SLGN has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Silgan from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, May 2nd. Raymond James lifted their target price on shares of Silgan from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Royal Bank of Canada lifted their target price on shares of Silgan from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $39.00 to $46.00 and gave the company an "underweight" rating in a report on Thursday, February 1st. Finally, Citigroup lifted their price objective on shares of Silgan from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. One 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's stock. Based on data from MarketBeat, Silgan currently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Insider Activity at Silgan

In other news, VP B Frederik Prinzen sold 4,684 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the sale, the vice president now directly owns 8,613 shares in the company, valued at $378,024.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is owned by corporate insiders.

Silgan Price Performance

Shares of NYSE SLGN traded up $0.50 during trading on Tuesday, hitting $47.14. 559,764 shares of the company were exchanged, compared to its average volume of 589,748. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.53 and a beta of 0.69. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $49.72. The firm's fifty day moving average price is $46.14 and its 200 day moving average price is $44.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.29.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. The business's revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts expect that Silgan Holdings Inc. will post 3.66 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Silgan's previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. Silgan's payout ratio is currently 26.67%.

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.