Fmr LLC Raises Holdings in Silgan Holdings Inc. (NYSE:SLGN)

FMR LLC boosted its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 12.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,046,400 shares of the industrial products company's stock after acquiring an additional 767,944 shares during the period. FMR LLC owned about 6.60% of Silgan worth $366,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in shares of Silgan by 5.7% during the third quarter. Captrust Financial Advisors now owns 8,405 shares of the industrial products company's stock worth $441,000 after purchasing an additional 456 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Silgan in the third quarter worth about $154,000. Stifel Financial Corp acquired a new position in Silgan during the third quarter worth about $203,000. State Street Corp boosted its position in Silgan by 0.6% during the third quarter. State Street Corp now owns 2,497,683 shares of the industrial products company's stock worth $131,128,000 after acquiring an additional 14,109 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Silgan by 14.2% during the 3rd quarter. Jane Street Group LLC now owns 65,237 shares of the industrial products company's stock valued at $3,425,000 after acquiring an additional 8,096 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Silgan

In other news, CEO Adam J. Greenlee sold 125,000 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their position. The transaction 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 the business's stock in a transaction that occurred on 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 sale, the executive vice president now 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.

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Silgan Trading Down 1.1 %

Silgan stock traded down $0.55 during trading on Tuesday, hitting $48.99. The company had a trading volume of 256,194 shares, compared to its average volume of 647,406. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The company's 50 day simple moving average is $51.27 and its 200-day simple moving average is $52.52. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81.

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, beating 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, analysts expect that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

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

Analyst Ratings Changes

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

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.