Ausbil Investment Management Ltd Boosts Stock Position in Silgan Holdings Inc. (NYSE:SLGN)

Ausbil Investment Management Ltd raised its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 93.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,579 shares of the industrial products company's stock after purchasing an additional 6,091 shares during the period. Ausbil Investment Management Ltd's holdings in Silgan were worth $642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in shares of Silgan by 37.8% during the 2nd quarter. Squarepoint Ops LLC now owns 45,109 shares of the industrial products company's stock valued at $1,909,000 after acquiring an additional 12,367 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Silgan by 1.1% during the second quarter. AQR Capital Management LLC now owns 37,660 shares of the industrial products company's stock valued at $1,594,000 after purchasing an additional 421 shares in the last quarter. Millennium Management LLC grew its stake in shares of Silgan by 62.5% in the 2nd quarter. Millennium Management LLC now owns 322,482 shares of the industrial products company's stock valued at $13,651,000 after purchasing an additional 124,020 shares during the period. Algert Global LLC acquired a new position in shares of Silgan in the 2nd quarter worth approximately $363,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Silgan by 13,482.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company's stock valued at $132,000 after buying an additional 3,101 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased 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 lifted their price target 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 boosted their price target on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Bank of America lifted their target price on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Robert W. Baird increased their price target on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.22.

Silgan Trading Down 0.3 %

SLGN traded down $0.17 during mid-day trading on Tuesday, reaching $54.65. The stock had a trading volume of 454,643 shares, compared to its average volume of 678,413. The firm's fifty day simple moving average is $53.59 and its two-hundred day simple moving average is $52.02. The stock has a market capitalization of $5.84 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.26 and a beta of 0.71. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.28 and a current ratio of 0.45.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, equities analysts predict that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan 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.