PEAK6 Investments L.P. bought a new position in shares of Silgan Holdings Inc. (NASDAQ:SLGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,117 shares of the industrial products company’s stock, valued at approximately $297,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in Silgan by 162.3% during the fourth quarter. Assetmark Inc. now owns 4,320 shares of the industrial products company’s stock worth $127,000 after buying an additional 2,673 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Silgan during the fourth quarter worth about $158,000. Cubist Systematic Strategies LLC bought a new position in Silgan during the third quarter worth about $167,000. Amundi Pioneer Asset Management Inc. bought a new position in Silgan during the fourth quarter worth about $199,000. Finally, Victory Capital Management Inc. boosted its holdings in Silgan by 73.2% during the third quarter. Victory Capital Management Inc. now owns 7,638 shares of the industrial products company’s stock worth $225,000 after buying an additional 3,228 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.
In related news, CFO Robert B. Lewis sold 15,000 shares of Silgan stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $29.01, for a total value of $435,150.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director D Greg Horrigan sold 355,934 shares of Silgan stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $28.01, for a total value of $9,969,711.34. The disclosure for this sale can be found here. In the last three months, insiders sold 468,655 shares of company stock worth $13,206,189. 33.10% of the stock is owned by insiders.
A number of research firms have recently commented on SLGN. Bank of America raised their price target on Silgan from $32.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, February 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price target on shares of Silgan in a research report on Monday, November 20th. KeyCorp reaffirmed a “sell” rating and set a $25.00 price target on shares of Silgan in a research report on Thursday, February 1st. Zacks Investment Research lowered Silgan from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. lowered Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Wednesday, January 17th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $31.20.
Shares of Silgan Holdings Inc. (NASDAQ:SLGN) opened at $28.84 on Friday. The company has a market capitalization of $3,190.14, a PE ratio of 17.62, a PEG ratio of 1.38 and a beta of 0.53. The company has a current ratio of 1.35, a quick ratio of 0.60 and a debt-to-equity ratio of 3.18. Silgan Holdings Inc. has a 1 year low of $27.21 and a 1 year high of $32.50.
Silgan (NASDAQ:SLGN) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. Silgan had a return on equity of 30.15% and a net margin of 6.59%. The business had revenue of $995.70 million for the quarter, compared to analyst estimates of $970.24 million. During the same quarter last year, the firm earned $0.48 EPS. Silgan’s revenue for the quarter was up 23.6% compared to the same quarter last year. research analysts forecast that Silgan Holdings Inc. will post 2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Silgan’s previous quarterly dividend of $0.09. Silgan’s dividend payout ratio (DPR) is currently 14.88%.
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
Receive News & Ratings for Silgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan and related companies with MarketBeat.com's FREE daily email newsletter.