Invesco Ltd. Lowers Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Invesco Ltd. trimmed its holdings in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,941,402 shares of the industrial products company's stock after selling 14,781 shares during the period. Invesco Ltd. owned approximately 1.82% of Silgan worth $101,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of Jackson Hole Trust purchased a new position in shares of Silgan during the 4th quarter valued at $59,000. Smartleaf Asset Management LLC grew its position in Silgan by 1,229.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after buying an additional 1,906 shares in the last quarter. GAMMA Investing LLC increased its stake in Silgan by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 2,640 shares of the industrial products company's stock worth $137,000 after acquiring an additional 863 shares during the last quarter. KBC Group NV raised its holdings in shares of Silgan by 52.5% in the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock valued at $181,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Silgan by 153.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,545 shares of the industrial products company's stock worth $185,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors own 70.25% of the company's stock.

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Insider Activity

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the company'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 completion of the sale, the chief executive officer now directly owns 227,332 shares of the company's stock, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of Silgan stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares in the company, 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 Stock Down 1.0 %

NYSE:SLGN traded down $0.49 during trading hours on Tuesday, reaching $49.05. 631,155 shares of the company traded hands, compared to its average volume of 649,592. Silgan Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The stock has a market capitalization of $5.24 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.27 and a beta of 0.81. The business's 50-day moving average price is $51.17 and its two-hundred day moving average price is $52.49. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24.

Silgan (NYSE:SLGN - Get Free Report) last released 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%. Analysts predict 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.20 dividend. This is a positive change from Silgan's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.63%. Silgan's dividend payout ratio (DPR) is presently 31.01%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLGN. 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 research report on Thursday, January 30th. Bank of America lifted their price target on Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Robert W. Baird increased 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. Royal Bank of Canada boosted their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $64.22.

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.