Arrowstreet Capital Limited Partnership Reduces Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 95.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,089 shares of the industrial products company's stock after selling 86,698 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Silgan were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of Jackson Hole Trust purchased a new position in shares of Silgan during the 4th quarter valued at approximately $59,000. Smartleaf Asset Management LLC raised its stake in 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 stake in Silgan by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock worth $137,000 after purchasing an additional 863 shares during the last quarter. KBC Group NV grew its holdings in shares of Silgan by 52.5% during the fourth quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after buying an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Silgan by 153.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock valued at $185,000 after buying an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Raymond James boosted their target price on shares of Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital raised their price target on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Robert W. Baird raised their target price on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.22.

Silgan Stock Down 1.0 %

NYSE:SLGN traded down $0.49 during mid-day trading on Tuesday, reaching $49.05. The stock had a trading volume of 631,155 shares, compared to its average volume of 649,592. The business's 50 day moving average is $51.17 and its 200 day moving average is $52.49. 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 fifty-two week low of $41.14 and a fifty-two week high of $58.14. The stock has a market cap of $5.24 billion, a P/E ratio of 19.01, a PEG ratio of 1.27 and a beta of 0.81.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Monday, March 17th. This is a boost from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is 31.01%.

Insiders Place Their Bets

In related news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the transaction, the executive vice president now directly owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

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.