ETRADE Capital Management LLC Buys 8,894 Shares of Silgan Holdings Inc. (NASDAQ:SLGN)

ETRADE Capital Management LLC grew its stake in shares of Silgan Holdings Inc. (NASDAQ:SLGN) by 26.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,229 shares of the industrial products company’s stock after buying an additional 8,894 shares during the quarter. ETRADE Capital Management LLC’s holdings in Silgan were worth $1,225,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. BBVA USA Bancshares Inc. grew its stake in shares of Silgan by 3.5% during the fourth quarter. BBVA USA Bancshares Inc. now owns 11,433 shares of the industrial products company’s stock valued at $355,000 after buying an additional 385 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of Silgan by 1.1% in the fourth quarter. Mason Street Advisors LLC now owns 41,241 shares of the industrial products company’s stock worth $1,282,000 after purchasing an additional 429 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Silgan by 3.7% in the fourth quarter. Natixis Advisors L.P. now owns 12,995 shares of the industrial products company’s stock worth $404,000 after purchasing an additional 469 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Silgan by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 38,640 shares of the industrial products company’s stock worth $1,121,000 after purchasing an additional 611 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Silgan by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 101,513 shares of the industrial products company’s stock worth $2,944,000 after purchasing an additional 911 shares during the last quarter. 63.63% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Robert B. Lewis sold 2,532 shares of Silgan stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $33.30, for a total transaction of $84,315.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP B Frederik Prinzen sold 5,112 shares of Silgan stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $34.51, for a total transaction of $176,415.12. The disclosure for this sale can be found here. 30.32% of the stock is currently owned by company insiders.

SLGN has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Silgan from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. KeyCorp reissued a “hold” rating on shares of Silgan in a research note on Wednesday, April 22nd. BidaskClub cut Silgan from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Silgan from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Friday, April 17th. Finally, Royal Bank of Canada raised Silgan from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $32.00 to $34.00 in a research report on Friday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.83.

Silgan stock opened at $32.38 on Friday. The stock’s 50 day simple moving average is $32.63 and its two-hundred day simple moving average is $30.97. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.78 and a current ratio of 1.21. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 2.69 and a beta of 0.70. Silgan Holdings Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $35.94.

Silgan (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Silgan had a return on equity of 25.52% and a net margin of 4.56%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. On average, analysts predict that Silgan Holdings Inc. will post 2.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. Silgan’s payout ratio is 22.22%.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

Recommended Story: When can a hold rating present a buying opportunity?

Want to see what other hedge funds are holding SLGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silgan Holdings Inc. (NASDAQ:SLGN).

Institutional Ownership by Quarter for Silgan (NASDAQ:SLGN)

Receive News & Ratings for Silgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan and related companies with MarketBeat.com's FREE daily email newsletter.