Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165,470 shares of the industrial products company’s stock after buying an additional 1,081 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Silgan worth $7,488,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SLGN. Quent Capital LLC grew its stake in shares of Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 505 shares during the last quarter. Fifth Third Bancorp increased its stake in Silgan by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company’s stock valued at $48,000 after buying an additional 538 shares during the period. Headlands Technologies LLC purchased a new position in Silgan during the 3rd quarter worth $70,000. Blue Trust Inc. lifted its stake in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 2,087 shares during the period. Finally, Corton Capital Inc. purchased a new stake in shares of Silgan in the third quarter valued at about $256,000. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Activity at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,684 shares of Silgan stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the sale, the vice president now directly owns 8,613 shares of the company’s stock, valued at approximately $378,024.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.39% of the company’s stock.

Silgan Trading Up 1.1 %

Shares of SLGN opened at $47.14 on Wednesday. Silgan Holdings Inc. has a 1-year low of $38.11 and a 1-year high of $49.72. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.49 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $46.20 and a 200-day simple moving average of $44.28. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.78 earnings per share. Silgan’s revenue was down 7.1% compared to the same quarter last year. Equities analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Silgan’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.61%. Silgan’s payout ratio is 26.67%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised their target price on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Raymond James upped their price target on shares of Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada raised their price objective on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company lowered their target price on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.00.

About Silgan

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.