Brevan Howard Capital Management LP Grows Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Brevan Howard Capital Management LP lifted its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 95.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,817 shares of the industrial products company’s stock after purchasing an additional 13,621 shares during the period. Brevan Howard Capital Management LP’s holdings in Silgan were worth $1,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Silgan by 12.2% during the 4th quarter. FMR LLC now owns 7,046,400 shares of the industrial products company’s stock worth $366,765,000 after acquiring an additional 767,944 shares during the last quarter. Norges Bank purchased a new position in Silgan during the fourth quarter valued at $38,680,000. JPMorgan Chase & Co. grew its holdings in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company’s stock valued at $301,670,000 after purchasing an additional 656,923 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Silgan by 87.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,253,727 shares of the industrial products company’s stock valued at $65,257,000 after purchasing an additional 584,840 shares during the period. Finally, Vanguard Group Inc. increased its position in Silgan by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company’s stock worth $464,886,000 after buying an additional 455,381 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Silgan Stock Performance

NYSE SLGN opened at $54.16 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The business has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $52.50. The stock has a market capitalization of $5.79 billion, a PE ratio of 20.99, a P/E/G ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN) last posted its earnings results 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 firm had revenue of $1.47 billion during 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%. Silgan’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, research analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.48%. Silgan’s payout ratio is 29.74%.

Insider Buying and Selling

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $12,441,880.36. The trade was 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 company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SLGN shares. Truist Financial cut their price objective on Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. 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 research report on Thursday, May 1st. Raymond James raised shares of Silgan from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $65.00 to $60.00 in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Silgan presently has a consensus rating of “Buy” and an average target price of $62.78.

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.