Silgan Holdings Inc. (NYSE:SLGN) Shares Bought by Barclays PLC

Barclays PLC boosted its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,521 shares of the industrial products company's stock after purchasing an additional 26,194 shares during the period. Barclays PLC owned approximately 0.08% of Silgan worth $4,348,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust acquired a new stake in shares of Silgan in the fourth quarter valued at about $59,000. Smartleaf Asset Management LLC grew its position in Silgan by 1,229.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 1,906 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares during the period. KBC Group NV lifted its position in shares of Silgan by 52.5% during the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Silgan by 153.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock valued at $185,000 after purchasing an additional 2,145 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLGN. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price objective on the stock in a report on Thursday. Raymond James upgraded Silgan from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $65.00 to $60.00 in a research note on Tuesday, April 22nd. Loop Capital lifted their price objective on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Finally, Robert W. Baird lifted their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $62.78.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Silgan Stock Performance

SLGN stock traded up $1.36 during midday trading on Friday, reaching $54.07. The company had a trading volume of 165,732 shares, compared to its average volume of 660,923. The firm has a market capitalization of $5.79 billion, a PE ratio of 20.96, a P/E/G ratio of 1.27 and a beta of 0.81. The stock has a 50 day moving average price of $50.44 and a 200 day moving average price of $52.44. Silgan Holdings Inc. has a fifty-two week low of $41.14 and a fifty-two 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 released 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. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio (DPR) is 29.74%.

Silgan 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.