Silgan Holdings Inc. (NYSE:SLGN) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its holdings in shares of Silgan Holdings Inc. (NYSE:SLGN) by 70.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,032 shares of the industrial products company’s stock after purchasing an additional 32,335 shares during the period. Teacher Retirement System of Texas owned 0.07% of Silgan worth $4,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLGN. FMR LLC boosted its stake in shares of Silgan by 87.7% during the third quarter. FMR LLC now owns 6,278,456 shares of the industrial products company’s stock worth $329,619,000 after buying an additional 2,932,680 shares during the period. Raymond James Financial Inc. acquired a new stake in Silgan during the 4th quarter worth approximately $11,419,000. Weiss Asset Management LP purchased a new position in shares of Silgan in the 3rd quarter valued at approximately $11,422,000. Bank of New York Mellon Corp increased its holdings in shares of Silgan by 22.6% in the fourth quarter. Bank of New York Mellon Corp now owns 914,019 shares of the industrial products company’s stock valued at $47,575,000 after purchasing an additional 168,789 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of Silgan by 202.3% during the third quarter. Two Sigma Advisers LP now owns 247,900 shares of the industrial products company’s stock worth $13,015,000 after purchasing an additional 165,900 shares during the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Silgan Stock Performance

SLGN opened at $50.11 on Tuesday. Silgan Holdings Inc. has a 1-year low of $41.14 and a 1-year high of $58.14. The stock has a market cap of $5.35 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.27 and a beta of 0.71. The stock’s 50 day simple moving average is $52.79 and its 200 day simple moving average is $52.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28.

Silgan (NYSE:SLGN) last posted 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 return on equity of 19.70% and a net margin of 4.72%. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. 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%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLGN shares. JPMorgan Chase & Co. lifted their price objective 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. Wells Fargo & Company boosted 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. Loop Capital raised their price objective on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Raymond James boosted their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Bank of America raised their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.22.

Insider Activity

In related news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were 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 owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now 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 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.