Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Quarry LP

Quarry LP cut its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,779 shares of the industrial products company’s stock after selling 274 shares during the period. Quarry LP’s holdings in Silgan were worth $93,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new position in shares of Silgan in the fourth quarter valued at approximately $56,000. Bank of Jackson Hole Trust purchased a new stake in Silgan in the fourth quarter valued at $59,000. Smartleaf Asset Management LLC lifted its holdings in shares of Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,906 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Silgan by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 863 shares during the period. Finally, KBC Group NV grew its position in Silgan by 52.5% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Activity

In other news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction on Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Analysts Set New Price Targets

SLGN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Raymond James upgraded shares of Silgan from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $65.00 to $60.00 in a report on Tuesday, April 22nd. Robert W. Baird boosted their price target on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their target price on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.78.

Silgan Price Performance

Shares of SLGN stock opened at $52.44 on Wednesday. Silgan Holdings Inc. has a twelve month low of $41.14 and a twelve month high of $58.14. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $5.61 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The firm has a fifty day simple moving average of $50.53 and a 200-day simple moving average of $52.44.

Silgan (NYSE:SLGN) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. This is a boost from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, March 17th. Silgan’s dividend payout ratio (DPR) is presently 31.01%.

Silgan Company 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.