Rhumbline Advisers increased its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 4.5% during the 4th quarter, HoldingsChannel reports. The fund owned 153,696 shares of the industrial products company’s stock after acquiring an additional 6,626 shares during the period. Rhumbline Advisers’ holdings in Silgan were worth $4,517,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of SLGN. Deprince Race & Zollo Inc. boosted its stake in Silgan by 63.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,409,945 shares of the industrial products company’s stock worth $41,438,000 after acquiring an additional 549,657 shares in the last quarter. American Century Companies Inc. boosted its stake in Silgan by 22.4% during the fourth quarter. American Century Companies Inc. now owns 1,768,586 shares of the industrial products company’s stock worth $51,979,000 after acquiring an additional 323,252 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Silgan during the third quarter worth $7,260,000. Wells Fargo & Company MN boosted its stake in Silgan by 5.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,788,054 shares of the industrial products company’s stock worth $52,551,000 after acquiring an additional 90,428 shares in the last quarter. Finally, Sterling Capital Management LLC bought a new position in Silgan during the third quarter worth $2,390,000. 66.91% of the stock is currently owned by institutional investors and hedge funds.
Silgan Holdings Inc. (SLGN) opened at $28.59 on Monday. Silgan Holdings Inc. has a 12 month low of $27.21 and a 12 month high of $32.50. The firm has a market cap of $3,160.00, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53. The company has a quick ratio of 0.60, a current ratio of 1.35 and a debt-to-equity ratio of 3.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Silgan’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, March 15th. Silgan’s dividend payout ratio (DPR) is 25.17%.
In other Silgan news, CFO Robert B. Lewis sold 15,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $29.01, for a total value of $435,150.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director D Greg Horrigan sold 69,121 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $28.69, for a total transaction of $1,983,081.49. The disclosure for this sale can be found here. Insiders sold 468,655 shares of company stock worth $13,206,189 over the last ninety days. Insiders own 33.10% of the company’s stock.
Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Silgan from $32.00 to $33.00 and gave the stock an “underperform” rating in a research note on Thursday, February 1st. KeyCorp reissued a “sell” rating and set a $25.00 target price on shares of Silgan in a research note on Thursday, February 1st. Zacks Investment Research raised shares of Silgan from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Monday, February 5th. JPMorgan Chase & Co. lowered shares of Silgan from a “neutral” rating to an “underweight” rating and set a $30.00 target price on the stock. in a research note on Wednesday, January 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Silgan in a research note on Monday, November 20th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Silgan has a consensus rating of “Hold” and a consensus price target of $31.20.
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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