Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 51.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 22,831 shares of the industrial products company's stock after selling 24,312 shares during the period. Prudential Financial Inc.'s holdings in Silgan were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Silgan by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 8,931,526 shares of the industrial products company's stock worth $464,886,000 after buying an additional 455,381 shares in the last quarter. State Street Corp grew its stake in Silgan by 0.6% during the 3rd quarter. State Street Corp now owns 2,497,683 shares of the industrial products company's stock valued at $131,128,000 after acquiring an additional 14,109 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Silgan by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,140,028 shares of the industrial products company's stock valued at $111,388,000 after acquiring an additional 9,532 shares during the last quarter. Geode Capital Management LLC lifted its stake in Silgan by 11.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,495,033 shares of the industrial products company's stock worth $78,509,000 after purchasing an additional 157,160 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Silgan by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,651 shares of the industrial products company's stock worth $47,972,000 after purchasing an additional 106,183 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Raymond James lifted their price target on Silgan from $62.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Robert W. Baird upped their price objective on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Bank of America lifted their target price on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.22.

Insider Activity

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the 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 sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 152,133 shares of the company's stock, valued at approximately $8,096,518.26. This trade represents 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.

Silgan Trading Up 2.7 %

NYSE SLGN traded up $1.29 during trading hours on Friday, reaching $48.91. The company had a trading volume of 731,164 shares, compared to its average volume of 648,247. 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 stock has a market capitalization of $5.22 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.27 and a beta of 0.81. The stock has a 50-day moving average of $51.38 and a 200 day moving average of $52.53. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 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%. As a group, research analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.20 per share. This is a positive change from Silgan's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, March 17th. Silgan's dividend payout ratio (DPR) is currently 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.