Illinois Municipal Retirement Fund Purchases 8,472 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Illinois Municipal Retirement Fund grew its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 30.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,750 shares of the industrial products company's stock after purchasing an additional 8,472 shares during the period. Illinois Municipal Retirement Fund's holdings in Silgan were worth $1,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SLGN. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the 4th quarter worth about $59,000. Venturi Wealth Management LLC grew its holdings in Silgan by 220.4% in the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company's stock worth $74,000 after purchasing an additional 963 shares during the period. KBC Group NV increased its stake in shares of Silgan by 27.7% during the third quarter. KBC Group NV now owns 2,277 shares of the industrial products company's stock valued at $120,000 after purchasing an additional 494 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Silgan by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 863 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Silgan in the 3rd quarter worth approximately $154,000. Hedge funds and other institutional investors own 70.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLGN. JPMorgan Chase & Co. raised their price objective on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Raymond James raised their price target on Silgan from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Bank of America increased their price objective on shares of Silgan from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Loop Capital lifted their target price on shares of Silgan from $70.00 to $75.00 and gave the stock a "buy" 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $64.22.

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Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 20,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now owns 152,133 shares of the company's stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company's stock.

Silgan Stock Performance

Shares of NYSE SLGN traded down $0.57 during trading on Tuesday, reaching $52.10. 358,705 shares of the company traded hands, compared to its average volume of 589,163. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $53.13 and a 200-day simple moving average of $52.80. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The stock has a market capitalization of $5.56 billion, a PE ratio of 20.19, a P/E/G ratio of 1.27 and a beta of 0.71.

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

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. This is a boost from Silgan's previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. Silgan's dividend payout ratio (DPR) is presently 31.01%.

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.