Eagle Asset Management Inc. Buys Shares of 86,745 Silgan Holdings Inc. (NYSE:SLGN)

Eagle Asset Management Inc. purchased a new stake in Silgan Holdings Inc. (NYSE:SLGNFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 86,745 shares of the industrial products company’s stock, valued at approximately $3,925,000. Eagle Asset Management Inc. owned 0.08% of Silgan at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Silgan by 20.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,053,086 shares of the industrial products company’s stock worth $260,949,000 after purchasing an additional 1,047,558 shares in the last quarter. Wellington Management Group LLP increased its stake in Silgan by 43.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,220,003 shares of the industrial products company’s stock worth $181,924,000 after purchasing an additional 1,269,349 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Silgan by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,804,254 shares of the industrial products company’s stock worth $126,895,000 after acquiring an additional 33,460 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Silgan by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock worth $105,159,000 after acquiring an additional 66,837 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Silgan by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,152,882 shares of the industrial products company’s stock worth $97,418,000 after acquiring an additional 8,349 shares in the last quarter. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Trading Down 2.5 %

Shares of Silgan stock opened at $45.66 on Wednesday. Silgan Holdings Inc. has a 1 year low of $38.11 and a 1 year high of $49.72. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.04 and a quick ratio of 0.62. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.57 and a beta of 0.69. The business has a fifty day simple moving average of $47.21 and a two-hundred day simple moving average of $45.11.

Silgan (NYSE:SLGNGet Free Report) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. Research analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, June 3rd. Silgan’s dividend payout ratio is presently 26.67%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their price target on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Silgan currently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

View Our Latest Stock Analysis on Silgan

Insider Buying and Selling at Silgan

In other Silgan news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the transaction, the vice president now owns 4,520 shares in the company, valued at $216,236.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 30,000 shares of Silgan stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.08, for a total value of $1,412,400.00. Following the sale, the executive vice president now directly owns 172,133 shares in the company, valued at $8,104,021.64. The disclosure for this sale can be found here. Insiders have sold a total of 59,651 shares of company stock worth $2,804,226 over the last 90 days. Insiders own 1.39% of the company’s stock.

Silgan Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Silgan (NYSE:SLGN)

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