Verity Asset Management Inc. Acquires Shares of 4,904 Silgan Holdings Inc. (NYSE:SLGN)

Verity Asset Management Inc. acquired a new stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,904 shares of the industrial products company's stock, valued at approximately $255,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its stake 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 valued at $74,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC increased its stake in Silgan by 51.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock valued at $93,000 after purchasing an additional 606 shares in the last quarter. KBC Group NV lifted 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 worth $120,000 after buying an additional 494 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Silgan during the third quarter valued at $154,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Silgan by 13,482.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company's stock valued at $132,000 after acquiring an additional 3,101 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Price Performance

Shares of NYSE:SLGN traded down $0.46 during trading on Friday, hitting $53.78. 500,222 shares of the stock were exchanged, compared to its average volume of 711,093. 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 has a market cap of $5.74 billion, a PE ratio of 20.84, a P/E/G ratio of 1.24 and a beta of 0.71. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The company has a fifty day moving average price of $53.36 and a two-hundred day moving average price of $52.18.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLGN shares. Bank of America raised their price objective on Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Loop Capital lifted their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Royal Bank of Canada increased their target price on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company raised their price objective on Silgan from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus 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.