Chase Investment Counsel Corp Invests $2.73 Million in Silgan Holdings Inc. (NYSE:SLGN)

Chase Investment Counsel Corp purchased a new position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,463 shares of the industrial products company's stock, valued at approximately $2,730,000.

Other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. raised its position in shares of Silgan by 11.7% during the 4th quarter. QRG Capital Management Inc. now owns 29,339 shares of the industrial products company's stock valued at $1,527,000 after buying an additional 3,066 shares during the period. Versor Investments LP raised its position in Silgan by 55.8% in the fourth quarter. Versor Investments LP now owns 15,908 shares of the industrial products company's stock valued at $828,000 after purchasing an additional 5,700 shares during the period. Proficio Capital Partners LLC purchased a new stake in Silgan in the fourth quarter valued at $873,000. Illinois Municipal Retirement Fund lifted its stake in shares of Silgan by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 36,750 shares of the industrial products company's stock valued at $1,913,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Silgan by 22.6% during the 4th quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company's stock worth $47,575,000 after purchasing an additional 168,789 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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 research report on Thursday, January 30th. Loop Capital upped their price objective on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Raymond James upped their price target on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price objective on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Silgan currently has an average rating of "Moderate Buy" and a consensus target price of $64.22.

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Insider Transactions at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This represents a 35.48 % 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, EVP Robert B. Lewis sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company's stock.

Silgan Stock Up 0.9 %

Shares of Silgan stock traded up $0.47 during trading hours on Wednesday, reaching $51.84. 967,494 shares of the company were exchanged, compared to its average volume of 591,810. The stock's fifty day moving average is $53.10 and its 200 day moving average is $52.81. 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 Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a market cap of $5.54 billion, a PE ratio of 20.09, a PEG ratio of 1.27 and a beta of 0.71.

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 (EPS) for the quarter, beating 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%. As a group, equities research analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is 31.01%.

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.