Clearbridge Investments LLC Sells 15,510 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Clearbridge Investments LLC trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,158,629 shares of the industrial products company's stock after selling 15,510 shares during the period. Clearbridge Investments LLC owned about 1.08% of Silgan worth $60,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. California Public Employees Retirement System lifted its holdings in Silgan by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 382,670 shares of the industrial products company's stock worth $19,918,000 after purchasing an additional 1,863 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Silgan by 6.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,787 shares of the industrial products company's stock worth $614,000 after buying an additional 680 shares in the last quarter. Norges Bank bought a new position in shares of Silgan during the fourth quarter worth $38,680,000. JPMorgan Chase & Co. grew its stake in Silgan by 12.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,795,781 shares of the industrial products company's stock valued at $301,670,000 after acquiring an additional 656,923 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Silgan by 1.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,291,442 shares of the industrial products company's stock valued at $67,220,000 after acquiring an additional 12,882 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Insider Transactions at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan 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 directly owns 152,133 shares of the company's stock, valued at $8,096,518.26. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Trading Down 3.4 %

SLGN traded down $1.71 during trading on Friday, reaching $47.88. The company had a trading volume of 1,099,679 shares, compared to its average volume of 640,378. 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 Holdings Inc. has a 52 week low of $41.14 and a 52 week high of $58.14. The stock has a market cap of $5.11 billion, a P/E ratio of 18.56, a PEG ratio of 1.27 and a beta of 0.71. The business has a 50 day simple moving average of $52.42 and a 200-day simple moving average of $52.74.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (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 analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.67%. The ex-dividend date was Monday, March 17th. This is an increase from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is 31.01%.

Wall Street Analysts Forecast Growth

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

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.