Bank of New York Mellon Corp Purchases 168,789 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Bank of New York Mellon Corp increased its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 914,019 shares of the industrial products company's stock after purchasing an additional 168,789 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Silgan worth $47,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. boosted its stake in shares of Silgan by 24.4% during the 3rd quarter. Nicola Wealth Management LTD. now owns 96,900 shares of the industrial products company's stock worth $5,087,000 after buying an additional 19,000 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Silgan during the 3rd quarter worth about $2,975,000. BNP Paribas Financial Markets boosted its stake in shares of Silgan by 144.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,938 shares of the industrial products company's stock worth $2,884,000 after buying an additional 32,432 shares during the last quarter. Versor Investments LP boosted its stake in shares of Silgan by 112.7% during the 3rd quarter. Versor Investments LP now owns 10,208 shares of the industrial products company's stock worth $536,000 after buying an additional 5,408 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of Silgan during the 4th quarter worth about $620,000. 70.25% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLGN shares. Robert W. Baird upped their target price on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Loop Capital upped their target price on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Raymond James increased 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Silgan Stock Performance

Shares of SLGN traded up $1.22 during mid-day trading on Friday, hitting $53.08. 766,400 shares of the company's stock were exchanged, compared to its average volume of 589,904. Silgan Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock's 50-day simple moving average is $53.07 and its 200-day simple moving average is $52.83. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24.

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

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.20 per share. This is a positive change from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. Silgan's dividend payout ratio (DPR) is currently 31.01%.

Insider Buying and Selling

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

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.