OLD Mission Capital LLC Acquires New Shares in Silgan Holdings Inc. (NYSE:SLGN)

OLD Mission Capital LLC bought a new position in Silgan Holdings Inc. (NYSE:SLGN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 33,361 shares of the industrial products company’s stock, valued at approximately $1,736,000.

Several other large investors have also recently bought and sold shares of SLGN. Franklin Resources Inc. increased its stake in Silgan by 1,918.8% in the fourth quarter. Franklin Resources Inc. now owns 86,929 shares of the industrial products company’s stock valued at $4,525,000 after acquiring an additional 82,623 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Silgan by 351.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,011 shares of the industrial products company’s stock valued at $990,000 after acquiring an additional 14,804 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Silgan by 0.5% in the 4th quarter. California Public Employees Retirement System now owns 382,670 shares of the industrial products company’s stock worth $19,918,000 after purchasing an additional 1,863 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Silgan by 6.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,787 shares of the industrial products company’s stock worth $614,000 after buying an additional 680 shares during the period. Finally, Norges Bank purchased a new position in shares of Silgan in the 4th quarter valued at approximately $38,680,000. 70.25% of the stock is owned by institutional investors.

Insider Activity at Silgan

In other Silgan news, EVP Robert B. Lewis sold 20,000 shares of the firm’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 transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of Silgan 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 sale, the chief executive officer now owns 227,332 shares of the company’s stock, valued at $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Silgan Price Performance

Silgan stock opened at $51.62 on Thursday. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.27 and a beta of 0.71. Silgan Holdings Inc. has a 52-week low of $41.14 and a 52-week high of $58.14. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm’s fifty day moving average is $52.57 and its 200 day moving average is $52.77.

Silgan (NYSE:SLGN) last released 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 net margin of 4.72% and a return on equity of 19.70%. Sell-side analysts forecast that Silgan Holdings Inc. will post 4.11 EPS for the current fiscal year.

Silgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.20 dividend. The ex-dividend date was Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Silgan’s dividend payout ratio is presently 31.01%.

Analyst Upgrades and Downgrades

SLGN has been the topic of several research reports. Wells Fargo & Company boosted their price objective 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. 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 report on Thursday, January 30th. Raymond James lifted their price objective on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Loop Capital lifted their price target on shares of Silgan from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.22.

About Silgan

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.