Vestcor Inc Invests $429,000 in Silgan Holdings Inc. (NYSE:SLGN)

Vestcor Inc acquired a new position in Silgan Holdings Inc. (NYSE:SLGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,249 shares of the industrial products company's stock, valued at approximately $429,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new position in shares of Silgan in the fourth quarter worth about $59,000. Smartleaf Asset Management LLC grew its stake in Silgan by 1,229.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the industrial products company's stock worth $107,000 after acquiring an additional 1,906 shares in the last quarter. KBC Group NV increased its position 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 acquiring an additional 494 shares during the period. GAMMA Investing LLC raised its stake 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 acquiring an additional 863 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Silgan in the 3rd quarter worth $154,000. Institutional investors own 70.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Bank of America boosted their price objective 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. Robert W. Baird increased their target price on Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Loop Capital upped their price objective on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on Silgan from $53.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.22.

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Insider Buying and Selling at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of Silgan stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the completion of the transaction, the chief executive officer now owns 227,332 shares in the company, valued at approximately $12,441,880.36. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction dated 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 directly owns 152,133 shares in the company, valued at approximately $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.39% of the company's stock.

Silgan Stock Performance

Shares of NYSE SLGN traded down $0.73 during midday trading on Friday, reaching $49.63. The company had a trading volume of 4,421,786 shares, compared to its average volume of 612,721. The stock has a market cap of $5.30 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.27 and a beta of 0.71. 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 Holdings Inc. has a 1 year low of $41.14 and a 1 year high of $58.14. The business's 50-day simple moving average is $52.83 and its 200 day simple moving average is $52.74.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly 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 return on equity of 19.70% and a net margin of 4.72%. On average, analysts forecast that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Silgan's previous quarterly dividend of $0.19. Silgan's dividend payout ratio is 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.