Schonfeld Strategic Advisors LLC bought a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,911 shares of the industrial products company's stock, valued at approximately $724,000.
A number of other hedge funds have also added to or reduced their stakes in SLGN. Ritholtz Wealth Management acquired a new stake in shares of Silgan during the 4th quarter worth approximately $620,000. Assenagon Asset Management S.A. acquired a new stake in Silgan in the fourth quarter worth $1,142,000. Janney Montgomery Scott LLC bought a new stake in Silgan in the fourth quarter valued at $2,563,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Silgan by 5.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 385,710 shares of the industrial products company's stock valued at $20,076,000 after purchasing an additional 19,080 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Silgan during the 4th quarter worth about $873,000. 70.25% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on SLGN. Robert W. Baird upped 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. Royal Bank of Canada increased their target price on Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Raymond James upgraded shares of Silgan from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Finally, Loop Capital upped their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $63.11.
View Our Latest Report on Silgan
Silgan Trading Down 0.3 %
NYSE:SLGN opened at $53.64 on Friday. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The firm has a 50-day moving average price of $50.50 and a two-hundred day moving average price of $52.54. 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 firm has a market cap of $5.74 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74.
Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Silgan's revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. On average, equities analysts expect that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal 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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, June 2nd. Silgan's dividend payout ratio is 29.74%.
Insider Buying and Selling at Silgan
In related news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the sale, the chief executive officer now owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 2,378 shares of the 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 transaction, the vice president now owns 1,380 shares of the company's stock, valued at $74,589. This represents a 63.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,378 shares of company stock worth $8,034,181 over the last three months. 1.39% of the stock is currently owned by insiders.
Silgan Company Profile
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Free Report)
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.
See Also
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