Versor Investments LP Raises Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Versor Investments LP raised its holdings in Silgan Holdings Inc. (NYSE:SLGN) by 55.8% during the 4th quarter, Holdings Channel reports. The firm owned 15,908 shares of the industrial products company’s stock after buying an additional 5,700 shares during the quarter. Versor Investments LP’s holdings in Silgan were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SLGN. Raymond James & Associates grew its stake in Silgan by 26.6% in the 3rd quarter. Raymond James & Associates now owns 45,134 shares of the industrial products company’s stock valued at $2,370,000 after acquiring an additional 9,470 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Silgan by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,517 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 361 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Silgan by 7.6% in the third quarter. New York State Teachers Retirement System now owns 106,539 shares of the industrial products company’s stock valued at $5,593,000 after purchasing an additional 7,480 shares during the period. QRG Capital Management Inc. increased its stake in shares of Silgan by 17.1% during the third quarter. QRG Capital Management Inc. now owns 26,273 shares of the industrial products company’s stock worth $1,379,000 after purchasing an additional 3,832 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Silgan by 5.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,430 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 388 shares during the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLGN shares. Robert W. Baird boosted their price objective on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target 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 upped their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised their price target on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at $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 owned by company insiders.

Silgan Stock Performance

Shares of SLGN stock opened at $53.67 on Friday. The company has a market cap of $5.73 billion, a P/E ratio of 20.80, a PEG ratio of 1.27 and a beta of 0.71. The firm has a fifty day moving average price of $53.09 and a 200 day moving average price of $52.69. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14.

Silgan (NYSE:SLGN) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Sell-side analysts predict 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 will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. This is an increase from Silgan’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. Silgan’s dividend payout ratio (DPR) is 29.46%.

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.